I like Jonathan's last bit of advice, it seems like that's what I've done, as I've built my system around my Jadis JP80 preamp and JA80 amps. My feeling was that the preamp was the most important component, as everything in the sources runs through it, so I stretched to get my dream pre and amps about 10 years ago and have worked around them since. I've been fortunate to have a good room, but I would also agree with others as to the importance of the listening room as well, as I've heard very impressive equipment severely compromised by poor listening rooms.
The most important piece in a stereo system???
I was wondering what people think is the single most important part of a stereo system? It can be the amp, speakers, CD payer, preamp, speaker wire, cables, tweeks, whatever you name it. I just want honest opinions. What would you spend the most money on? I think most of you will either say amp or speakers. I know having all good stuff will make your system sound better, but I just want to know the single most important part. Myself I think the speakers are the most important. I look forward to reading what you think. thanks in advance.