Upgrade speakers or DAC

Speakers should be the first thing you base your system on and then eventually the last item of the upgrade.  All speakers have an unique presentation.  When you find that signature sound that you prefer, speakers become the foundation for which your stereo is built. At that point optimizing your system around those speakers to bring out as much of the reason you bought them should be the goal.  Upgrading speakers when the rest of the components and the room aren't addressed is just masking the deficiencies but they still exist.  I'm a great believer in if the first watt is crap then it's just amplified thru the whole system.  That applies to your source which in my opinion is where you should focus.  Simple things such as speaker placement and addressing reflective surfaces will make huge differences in the presentation. Have you considered a subwoofer?  Properly integrated it adds bottom but also opens up midrange.
My .02¢

I have listened to the SF speakers you have. Pretty good loudspeakers. But I would bet the jump from Cambridge to dCS would show you what your speakers are capable off. That can keep you satisfied for a year or two. Save and then jump to a much more better speakers than you currently intend to get. Not sure if you have room treatments. They will make a positive impact when placed properly.

Speakers will give you the most obvious difference, but in the long run, I think source is more important. 

Better speakers will get you a more accurate representation of the source signal you currently have, a more accurate source will give you the most accurate system possible, with any speaker.

Unless your DAC is from 1997, a new DAC will make approximately ~1% of the difference new speakers (or treating your room) will make. 

Whether you upgrade, the streamer or the speakers first, you’ll be upgrading the other component soon after. 
 

I’d upgrade the speakers first but I would also say the DAC upgrade will be very significant as well. Also, in my experience, streaming DACs don’t feature the best possible streamer and a separate high quality dedicated streamer will beat the inbuilt network module. Something to keep in mind for the future. 

Both. The better the speakers are the bigger difference a better dac will make. The good thing is your amps and pre won’t need to be upgraded for the new speakers. is the cambridge an audible upgrade from the dac in the c2500?

Thank you all for your input!

@johnread57 yes, significant jump from Cambridge Audio Edge NQ to dCS Rossini Apex. I have taken my CA to a dCS dealer and compared the two using the same components in the same room....and WOW. 

@aewarren this rabbit hole is almost never-ending! I think these two will end up being my last upgrades and then call it quits. 

@soix I've had a couple dealers advise me that the Cambridge is the weakest link in my system as well, even tho it is their top of the line. 

@curiousjim The G5's are amazing speakers, they really are. You will definitely enjoy them. I have compared them without subs to my Olympica III's with dual REL 212 SE's and to my ears, they sound about the same. That is why I am looking further up the line.  

@kerrybh Thanks. The SF Il Cremonese are beautiful to look at and sound amazing. 

@deep_333 I'm looking for just "more" I guess. When I listened to the Rossini Apex there was more separation, more instruments, more voice, more bass, the sound enveloped the room just more. In listening to the Il Cremonese, I guess it did the same in comparison to the Olympica III. 

I have the Il Cremonese and I think that’s your best bang for the buck. I upgraded from SF Serafino- outstanding in its own right- and the difference is substantial. Initially planned to go with the Amati which is a great speaker but moving up to the Il Cremonese was a big jump

the DCS is a great piece of gear but I think you will get the biggest jump with the speakers and could get a very big step up in performance from the Cambridge for much less investment than Rossini

Speakers

#1 What do you not like about the sound coming out of this stuff? Or what would you like changed, hear more of/less of? If you don’t have a clear answer in your mind to such questions, the word "upgrade" doesn’t mean much. It could also easily turn into a "upgrade", "sidegrade" or "downgrade" into a type of sound you don’t like. Spending more and more above a certain price bracket is no guarantee of anything.

For example, if the soundstage is a bit too 2D, not 3D enough for your tastes, the Mac could be a culprit, has some 2D flattening/flat wall making tendencies....If the sound is a bit too soft, not a whole lotta detail, just generally unexciting or too much sleepy time/yawning resulting from sound, it could be the Faber (for you, that is...your personal taste o’ meter)....Some other guy’s taste o’ meter may be somewhere else and your gear may be perfectly fine for him, it could be "organic" and "musical" for him.

#2 No mention of any treatment on your comment, so, I would say that if all this stuff is just plopped down in a room with no treatment, an upgrade doesn’t mean much either. Scroll over to about 3:30 on this youtube video. It should provide a tad amount of insight about spending cash in the right places.

What More Do You Want?

i only listen to music in 2 channel, but current system:

Dedicated 20amp line

AQ Niagara Edison outlet

AQ Dragon power cords and interconnects throughout

AQ Thunderbird Biwire speaker cables for Front LR

AQ Thunderbird Zero speaker cable for Center Channel

AQ Vodka Ethernet cable

AQ Niagara 7000

McIntosh C2500

McIntosh MC1.2kw (X3 for LCR)

McIntosh MX160

Mcintosh MC207

McIntosh MCD205

Cambridge Audio Edge NQ

Fisher MT-6225 Turntable

PS5

Sonus Faber Olympica III

Sonus Faber Olympica I

Sonus Faber Vox

REL 212 SE (X2)

You have made a big mistake not having better speakers all along, your system is like having a 500 hp engine and exhaust through a ½ inch pipe.

@s2ssports 

I would suggest you move up the Sonus Farber line. I am breaking in a pair of Amati G5’s and am really enjoying them.

All the best.

BTW,  what kind of music do you listen to?

When upgrading I tend to go with whatever the weakest link is at the time, and in your case I think the streamer is your weakest link by a good margin.  I’d encourage you to look at Aurender, Grimm, and Innuos as well.  Best of luck. 

It's actually a toss-up. Upgrading your speakers will make the biggest difference in the sound of your system but you will not hear what they are capable of until you upgrade your source components. Conversely, upgrading your sources will make significant changes as well but to get the full benefits you will have to upgrade the speakers. This is why I always suggest that once your system is matched, leave it alone and enjoy the music. Otherwise be prepared for a trip down the rabbit hole.

SPEAKERS Speakers are where the rubber meets the road

Always source you will be amazed that when you have a great source how much better your system will sound. The speakers can only produce what is feed to them.  We have used old box speakers KLH form the 70s and found that they disappear with a better source much to our surprise.

Speakers will always make the biggest different in sound quality, bar none.  The question is when does one stop ?

Speakers!

Big jump from Cambridge to dCS DAC, I would assume. Do that first and speakers afterwards. 

I used to say speakers but, the source is where everything starts and stops

if the signal is not very good from the start you can’t make it up down stream.

Speakers!

i only listen to music in 2 channel, but current system:

Dedicated 20amp line

AQ Niagara Edison outlet

AQ Dragon power cords and interconnects throughout

AQ Thunderbird Biwire speaker cables for Front LR 

AQ Thunderbird Zero speaker cable for Center Channel

AQ Vodka Ethernet cable

AQ Niagara 7000

McIntosh C2500

McIntosh MC1.2kw (X3 for LCR)

McIntosh MX160

Mcintosh MC207

McIntosh MCD205

Cambridge Audio Edge NQ

Fisher MT-6225 Turntable

PS5

Sonus Faber Olympica III

Sonus Faber Olympica I

Sonus Faber Vox 

REL 212 SE (X2) 

What’s the rest of the equipment in your system?  Preamp?  Amp?