What is the most important component to consider while building a new system?

Hi scottya118...thanks for the topic,

As a senior contributor for 2 channel, so far, I can agree with several differing responses so far.  For many years, in a conventional multi-component, analog setup, a GREAT preamp and phono-stage was the heart and soul of a great system.  Now, in 2021, with variety of excellent source options, focus is on room-speakers-tuning devices.  Then... mating the best amplification affordable to the speakers, paying great attention to the load and characteristics of both.  Same holds true in pairing the source to the amp with the many choices now available, expertise being invaluable.

Once that's all locked-in, for my money, EXPERT DSP can now take everything to levels never before imagined.  Old thinking of the "purity" of getting from A to B to C, is simply that...old thinking.  My super experienced Tech and I have carefully measured the sweet-spot, then have consulted our way, over time taking these measurements forward with great success.  This is not a "problem fix" per se...it's more, "now, let's see how far we can take it."  Once again, please don't think parametric equalizer.  These are adjustments 1/100th of a db capability...a mastering engineer approach suited for YOUR room.  We use music with which we are both intimately familiar, and fine tune.  

I also have my musician 23 year old son as another pair of ears.  He doesn't use our verbiage, but he is honest with his findings and gets them across to me nicely.  A recent cable upgrade, he reported "more clarity and a larger soundstage."  That truly said it all.

Even my Tech and I disagree on some things.  He's at a point where he can use most any quality cabling and fine tune it to his flavors.  Mine is more the approach of using the best sounding wire I can reasonably afford, THEN taking things forward with DSP.  I'm adding this to point out that there may indeed be more than one "right" answer to many things in our hobby.  The fun is, finding your individual truth.  More Peace, Pin

The most important components in an ANALOG system in priority order, most important first:

- phono cartridge
- tonearm
- phono preamp
- preamp/power amp
- turntable
- speakers

Setting up your room and placing speakers will be the greatest part of starting from scratch. Choose the best speakers for your room, then amplifiers and cables to best match the speakers. Then look for preamp/processor, DAC, turntable, tonearm, cartridge, phono stage, etc., that will bring out the best in the media you choose to play.

Speakers usually. However, amps these days sound so different from one another that they’re becoming a more important component all the time. It used to be that if you weren’t building your system around your speakers you were going about it wrong. That’s not necessarily the case anymore. There are so many small shops building top notch amps for very competitive prices, amps have suddenly become almost as important as speakers in building a system. In some cases the amps are more important, especially if you're looking for a specific type of sound.