If you want the best possible sound, then separates. If you are looking for cost effective, then combined. The two worlds of objectives are worlds apart. This is an easy choice.
The highest level components separate each stage and component. So high end components will be monoblocks amps (or even 4 box… two power supplies and two amp sections), the very best preamps are generally two box… the power supply separate from the preamp circuits. Each stage of consolidation reduces cost and fidelity. For those interested in cost effective… they choose the integrated solutions… for those interested in the best possible sound, then lots of boxes.
I have owned a great integrated preamp late 1970’s Audio Research, then in the ‘80s moved to a separate Phonostage,.. then up the quality of separate phono stage that Audio Research offered until their current Reference 3SE phono stage ($17K)… completely worth the money… what it makes my Linn LP12 / Koetsu sound like. I want the best possible sound… I am getting it.