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

Everything counts .

As a former dealer, I can tell you as many here have, YOUR ROOM and your chosen SPEAKERS IN YOUR ROOM have more to do with accurate music reproduction than any other component.

Physics has not changed; there are only a fixed number of circuit designs available to the most genius of designers, so quality components that people on this forum argue about basically have minuscule differences in final sound in the whole world of things. (Close 'n Play ain't in the running any more.)

I suggest you ask your dealer to set up a pair of Magneplaner speakers IN YOUR ROOM along with some equipment you can afford and see what you think  If you cannot afford super expensive equipment, get what you can and slowly work up to better gear.  The speakers will reproduce what you send them, so they can stay IF THEY FIT YOUR ROOM.

If not, you will be forced to buy some box speakers, but they have improved greatly over the years.  Somehow, some designers figured out that tall speakers offer better imaging, etc., than short ones.  I have NO IDEA where they got that notion (Jim Winey?), so boxes are no longer horrible, but try the Maggies first if you can.

Happy listening!

For me, speakers are the part of the system that defines the sound the most. And the most by A LOT! Everything up the chain matters in terms of details and coloring but each pair of speakers has their own sound that is never going to be changed that much. For instance, doesn't matter what I do, my vandersteen speakers are never going to sound like Martin Logans. Doesn't matter what electronics and source and cables I use. They are fundamentally different and I made the choice I did because I like how they sound. My electronics and source can flavor things a little bit the overwhelming sound one hears is defined by the speakers.

of course the line"everything matters" is true, but I believe room(not just size, but what else is in the room and where, as well as optimum placement of the speakers within the room) and speakers are the place to start....if things are excellent there, the sound will only get better and better as you feed them better signal.....you can gradually "grow" into them.....

"I give up. You guys are right. The Tekton Moab is the single most important component."

Everybody realizes Chuck was just kidding there, right? No?
Well played, MC.

Easy answer - everything matters.

10 years into my audio odyssey I spent a year in England where I purchased a pair of Harbeth Compact 7s and custom Target Audio stands. I hooked them up to my roommates cheap mass market receiver and CD player in his loft, a lovely room with high angled ceilings and good acoustics. Sounded excellent. Did they sound better after freighting them back to the states at the end of my tour connected up to my all Naim system in a 10 x 12 x 8 room? A little better in some ways worse in others. My takeaway—get the speakers and room right first and foremost.

Hi again Moabman.
Are you listening in mono?

While not considered a component per se, the most important is the electrical supply , management. Without it you might as will buy a boom box and call it the day.

Would you guys stop arguing about "Tekton Moabs"....I'm in marketing and simply put: If you don't respect Eric for his efforts building speakers and a company on top of that....and the creme is everyone knows them...a Marketing Coup.....the guy is a genius in many ways

Something the haters never will understand. 

The room. 

overall system synergy, including the room, is what matters most

so the question by the op is better asked, given a room to work with, which component should one start with, when building a system anew

to that question, in my view, is the speaker choice

it is not about importance... it is a signal chain, so every link is important

sequencing is the practical question

+5, to olhvy for a 'cut to the chase' D system. 👍

If one begins from a premise, the remaining route is just the same 'hunt 'n peck' choices of accoutre', be it plain or sorta' SOTA....*g*

...but bring $ anyway.  It will be necessary...

any single separate component of system is of no priority importance at all. 
synergy between them is 

I don't know that there is a holistic approach or even one which singles out a component within a hierarchy (yes, I remember Linn's marketing). I'd define objectives and priorities first.
For me, it starts with the midrange. It has to be grain free and transparent. I've relied on tubes to do that, since Biblical times. But, that may not satisfy someone with different priorities.
Amp-Speaker relationship is critical and you cannot buy one without the other in mind. Since most people think the overall shape of the sound is going to be dictated by loudspeaker type, that forces the amplifier decision.
Beyond that, it's a bunch of boxes and cables. Are you doing analog? Lot's of considerations, just as there are in putting together a good digital front end. 
I suspect most people start with certain "assumptions" (which could include not only budget, but space, room, appearance as well as availability). Me, I did it the long, step by step way and had a serious system by 1975, but despite the variety of interesting equipment I've owned over the years, I wouldn't say I "churned" through equipment. To the contrary, I tend to buy and hold.
The baseline starts with what you can hear and be exposed to in a decent listening environment with a variety of material to assess both the strengths and weaknesses of a given assemblage of components. Having "Tier1" components across the board is not a recipe for success-- that elusive "synergy"-- and you are the one who is going to have to live with it, whatever you choose. 

The source. That is what matters.

One's bank account? And perhaps a very clear idea of what you expect, desire,  your favorite reproduced music to sound like in your space.

Another vote for speakers.  I'm on my third pair of Magnepans.  
Love 'em.   

The most important component is synergy. (Everything is important and must work cohesively) People who assume they can get quality sound from a good set of speakers, in a bad room with crappy electronics simply prove that the second most important component is the listener.

My vote is on speakers!

I give up. You guys are right. The Tekton Moab is the single most important component.

I see they are offering an upgrade package for $300.00: Mundorf or ClarityCap (depending upon real-time availability) within the tweeter section and an oversized Jantzen or Erse Sledgehammer inductor.

A no brainer.

Gin, and maybe snacks

if you consult Mr. McGowan he will reassure you he is correct.

Naturally, he would say that, but who can say...

+101 Room/Speakers. Then the best you can get to go with ‘em. Praise Jah.

+ 1001 on a partner who lets you do what ever you want and can afford to do. Don’t ask, don’t tell also acceptable.

Please don't say Paul McGowan is wrong in that video. I saw it too before buying any components for my new system and allocated resources  accordingly. Also if you consult Mr. McGowan he will reassure you he is correct. 

Mike

I wish to say first and foremost that I think this has been a great discussion and I thank all who have contributed. And I've learned something; that room dynamics and dimensions are a huge part of the equation and need to be taken in account as one's system is planned. That said, I must state that comments shared by ghdprentice are most in line with my own philosophy. Thanks again to all who have responded. Regards, Scott

Amp + speakers + room = a "system within a system". These three need to work together well.  Not saying these are the most important individually, but imo their synergy is. 

Duke

Money is the most important part of a system.

I vote speakers too because it is the most personal choice. You may find only 1 pair of speakers suitable for you. Nothing to do with % of budget. First get speakers you like then there should be a good choice of amps known to work well with it. Once a good partnership is installed you can keep it for 10+ years. DAC and source are much easier to figure out.

I would be more interested to hear about changes to the OP system to effect this experiential change in opinion…. Pretty light on before and after….details

Not referring to you (OHM)

<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>

There isn't a thing on earth that really bothers me until I went to the Social Security office this morning. The Feds still have all their offices shut down. EXEPT for new SS numbers. GUESS WHO was getting those appointments. Not a baby in the bunch..

NOT ONE as they turn every flippin person who showed up AWAY and instructed everyone to send any information IN, THEY would sort it out..
via MAIL..

I almost went into riot mode. GD Lazy SOBs..
YOUR tax dollars NOT working but collecting a pay check. IF I didn't understand Spanish pretty well I couldn't have understood the person I spoke to, as they poked their head out the door with an Vet Marine guard, NO CRAP, HTG. We spoke in Spanish it was just easier.

I'm an American Irish kid. ONE year they have not fixed my payments.. Thank GOD I don't have to depend on the money.. BUT it's MINE.. PERIOD.. 

To bad you're gonna hear it.. Crap I don't drink.. Maybe I should start..
WE have a broken lazy LAZY SS system.   BTW YOUR SS info is being hacked by every nitwit in the world, because of the SS web site.. It has one function. To put your information for the world to hack.. It has ZERO functions otherwise.

You cannot leave an Email, make an appointment only READ the information being hacked by everyone else on earth.
NOW you know where your information is going FOR REAL...

WTF gonna erase it anyways.. :-)

Turn the FU(#in' music UP.. Geez..

Would you guys stop arguing about "Tekton Moabs"....I'm in marketing and simply put: If you don't respect Eric for his efforts building speakers and a company on top of that....and the creme is everyone knows them...a Marketing Coup.....the guy is a genius in many ways

Wallet is the most important component. You can't build anything without it.

Speakers by far, buy hi efficiency, Klipsch Forte III's, Superb with tubes.

Like Paul I make some portion of my money selling electronics or at least designing them I totally agree the answer is speakers. No I would say to more important things are the room in the recording/mastering but those are not part of your “system”

Some will say the room, some speakers; I think both. 

Setting up the system correctly in your room and making sure your whole system gels with your kind of music is the most important part of your system. Also i would say playing good recordings is an essential part related to this.

FIRST; The right domestic partner or at least an animal friend. Mountain Gorilla is a little tough on some gear.. Maybe a terrier..

Then pick what ever you want.. Won’t have to navigate the narrow path of domestic bliss behind some MAN purchase vs WOMAN purchase vs Gorilla vs Terrier purchase..

SECOND; Speakers and room, or room and speakers. Either way.

THIRD; To get started (an option) I went out and powered 2 serious speakers including the bass section with two 59.00 2.1 class d and a 79.00 dollar tube head set/dac/WiFi/Tone control and everything else under the sun. Thing.

I was floored, just floored.. I used a Galaxy S3 for a source.. I did use really good cable though.. :-) Smart a$$ neighbor blabbing about how class ds were junk.. Shut him up.. 200.00 wonder system..

The amps were 50x2 & 100x1. The bass (100), mids (50) and highs (50).. The heaviest part was the cables at least 3 times the weight of 2 amps, 1 preamp and 3 PS.

DIY like me on the room and DIY some gear/speakers/cables/things/stuff/do-dads..

I did buy a new phono/tape pre amp, second new purchase in a long long time. The first went back.. I always by used..

New Parts.. Used Gear.. Fast women, (not to fast) ;-)
Regards

@qjm101,
Good one.
B

Room and most speaker you can afford

Budget and how much of a forum hero you want to be.

Of course they all matter. However.


There are lots of rules of thumb with regard to different components. Over most of the last 50 years my system has had Speakers that were more in the 10% of system cost as opposed to the 30% or so recommended investment. I believe my system always sounded good for my investment level. But you must be good at component matching.


My emphasis has been:

1. Preamp
2. Phonostage / DAC,
3. Turntable / Streamer
4. Speakers and amp
5. Cables / interconnects
6. Power conditioning
7. Power cords
8. Other tweaks (dampening, lifters… etc)

Speakers!

Of course when moved to my current room first thing I did was to make a dedicated line.

The room is the most important.

After that its making sure you have a good source. Seriously- if your source(s) aren't doing the job right it won't matter how good your amps and speakers are- they can't make up for lost or distorted signal downstream!

Assuming music collection is respectable, I would start first with the source (old school) then speakers with amp, followed by power distribution, cabling and support. I have not included the room or any treatment, as normally it would be the second in my hierarchy and indicating also speaker size and drive needs, but nearfield listening can work great also.

50% room, 40% speakers, 9% amp/pre, 1% everything else. 
A good amp and pre amp is normally good on everything unless you have some type of specialty speaker (horns etc). If you get the speakers right to taste you don’t need to chase amps to tune them imo. 
I am in the wires don’t matter as much as people think crowd. Good copper 10g and call it done for me. Again goes back to getting the speakers and room right and not having to chase tuning.