What's my best upgrade options

I think looking at your sources (Vinyl or CD playback) would be an area that the improvement you seek could be found.  Decide which one you predominantly use for your playback and focus in that area to see what improvement it brings.  Clarity from a pair of Magico A5s certainly would be expected but it has to start at the source. 

Have you experimented with any tube rolling?  

I don't think you will get  much out of  Rega P3 to P6 change

I would update the cartridge. I am in the same boat. (Nothing like your system, just the Rega P3 and the need to upgrade the elys 2 with several 1000s of hours on it.)

I think what I’m looking for is more clarity, more crystal clear detail, maybe lower noise floor, if that makes sense.

I have had problems with noise when using the higher gain XLR connections. I had to use an adapter and put a pad in the line. Went from too noisy to dead quiet.

Your table/cartridge are certainly the bottleneck in an otherwise stellar system. That's where you should start.

@dothebluecolts 

The best upgrade would be a new defensive coordinator.  The run defense lost the last game.  Second, can we remember Andrew Luck?  The same ending will likely happen with Richardson if he continues to run the ball. 

Whoops!  Sorry, we're talking about audio.  I agree that the TT is the weakest link.  I'm surprised no one has mentioned an updated dac, or maybe a transport and dac for playing cd's.  Streaming?  With those fabulous speakers, the sky is the limit.

Go Colts!

Absolutely your front end. I would give carefull consideration to the future of your system. The future is streaming the past is vinyl and CD. Concentration of your money into one approach will get you the farthest most quickly.

The strengths of your system is your speakers and amp… and maybe the preamp.

So with that in mind, you could set yourself up for future upgrades by getting a really good DAC. Something in the $5 - $10K new… used, bringing the cost down. Then use your CD player as a transport. Then as soon as you are able to recover a really good streamer (Aurrender) Then you are set for the future and you’ll have a 10 million+ album collection for $14.99 / month (Qobuz).

Is vinyl your primary source? Will it remain your primary source?  If so, the consensus suggestion here is correct in my opinion.  Your turntable rig needs a meaningful upgrade that is not a Rega product, especially if you have a ton of records that you (like me) are actually going to play. Spend the money now, and take comfort in knowing that great turntable/arm combinations will outlast us both.
 

Good luck 👍 

The OP didn't mention streaming, but that was my first thought. 

Before I bought my Innuos Zen Mk3 streamer, I used my Denon DCD-1700NE sacd player more than anything.  I tried the vinyl route. Spent around $4500 on a TT, Hana cartridge, and Sutherland phono stage. It sounds great, but I'm not into the cleaning and flipping of records.

I run the Innuos into a Gustard U18 ddc then to my Gustard R26 dac. Also using a LHY ock-2 clock and decent cables. This combination sounds better than the sacd player. 

gonna have to agree with many other posters.  a $2k turntable with $25k speakers and $20k amp/pre (when new) is out of balance.  you could probably get a pretty nice TT for $5k, but I wouldn’t bother if you’re only willing to spend $2k; I’d just plow that into a better DAC and call it a day.

You didn't mention your room.  Every flat surface in your room is a transducer that reflects, cancels and muddies the sound.  How much does you sound change when you stand up?  How about when you lean forward in your listening chair?  Unless you have already treated your room I would suggest purchasing a couple of acoustic panels and just lean them up against wall and then move them and listen.

A simple heavy blanket over your flat screen increases clarity and depth.  If you have a coffee table between you and the speakers try moving and giving it a listen.  Acoustics don't have to be permanent but simple changes can make a difference and then can be removed for returning the space back to a more normal configuration.  You'll also learn what make a difference and when you want to make the changes for good you'll understand it better.

Agree with many that upgrade of the sources are a good next step. Also agree that going from rega P3 to P6 will not yield much benefit. I purchased a P10 last year and put it on the market the next day. My old Heybrrook TT2 with a Alphason HRS-100 MCS was overall better. There are very good turntables in that price point. Although, I prefer higher end belt drives, Technics looks very tough to beat in that price point matched with something like a Hana SL. The best cart under 1k$ IMHO. Good luck in your search.

Mainly in line with @goheelz if you have a lot of vinyl already then TT and perhaps phono stage, I have Origin Live (OL) decks and arms in ranges from £3k to over £25k and recently obtained (with a view to it being a starter for a friend) a Rega 3 with a (£500) Ania cartridge on it that they normally put on as the ’higher level’ choice over the Exact on the P6. Whilst it was ’ok’ put through a Whest Titan Pro II and Vitus Amplification. It could not anywhere near compete with either my putting a cheaper 2M blue on the cheapest of the OL decks and when I put the Ania cartridge on that it was better than the 2M blue and similar to a 2M black LVB. The Ania on that OL deck got more of the subtle detail that my MC Diamond pulls on the best deck.

So if Vinyl is your thing, I would move from Rega if you can audition an OL with a similar level of cartridge you have, especially it you could try it through a Whest Phono Stage it could give you an interesting comparison. Michael Fremer has periodically reviewed Origin Live from 2004 and the deck he reviewed then in Stereophile is still made now in a Mk5 version with cascaded learning as when OL launch a new flagship they cascade the learning to a new iteration of the ’old’ flagship keeping these competitive with some decks of 2-4 times the price.

Also a look at the testimonials on the Whest page may also encourage an audition of one of these even if you cannot try with OL. And I will note that with a Taiko Extreme Server and a dCS Vivaldi four box CD/SACD system. I go to the Vinyl almost exclusively and I re-built my vinyl collection after a 10 year break after I heard the Origin Live with a Whest Phono-stage. An OL Sovereign-S with a Conqueror or above arm and a Whest 40SE or above would be a very worthy Vinyl front end for your downstream system. For me the re-building has been worth it.  I also hear good things from those I trust of the Alphoson HR200-S Arm, but will likely not hear it until the Ascot UK show in a weeks time. 

But if you are not already heavily vested in Vinyl then I’d agree whether you go Qobuz/Tidal for less than 1 vinyl album a month you have ’the world’ of music. I have an Aurender W20 (not SE) and a Taiko Extreme, the latter is overall better the former is excellent as are several models in the range at their price point. dual aes/ebu Aurender’s like the W20 work very well with dCS Vivaldi DACS as they did design work together.
MSB may well be a preferable choice with a Taiko. But when I want them ’ in the room’ I still go with Vinyl, especially when there is a well mastered 45rpm version.

@OP As others have said, the system is completely unbalanced in terms of the source components versus the rest of it. If you listen to a lot of vinyl, the Rega 3 is the weakest component of all. Without breaking the bank, a Technics SL 1300G and, for example, a Hana ML cartridge would be a big improvement.

Also, have you listed to the system with the surge protector out of circuit? You don't say what make it is, but in general, inexpensive power conditioners are rarely an improvement.

Buy a very good Dac that is a big plus  cd player very limited  power cables too

your cables biggest weakest link ,having owned a Audio store for over a decadec

system synergies ,  for minimal cost Wireworld Eclipse speaker cables 

or platinum if you can afford  try to keep brand the same in interconnects cables 

a Litz cable preferred imo for no Cable Micro arching  worse only connect at the connectors .

It's the economy, stupid.

Err, try it again, it's the sources, stupid.

Not calling the op stupid just the system.

If you are really interested in making improvements to your system, your source components are the place to look as others have stated. I am so surprised no one has mentioned the addition of a subwoofer or two, which is usually the go-to cure-all on this forum. :) I would suggest you start with a new phono cartridge which can easily be transferred to a new turntable should you decide to keep moving forward. Or if you just want to jump right in, get a whole new analog front end. There are many possibilities, and don't forget that a good support shelf is necessary for your turntable.

Thanks everyone. 

I plan to pursue the TT upgrade route.  Not sure what I'll get, doing the research now.  My rub is I have a pair of speakers I'm trying to sell, and I'm thinking about trading to TMR, but I feel their available products is a bit thin.

Streaming isn't really an option, we don't have high speed internet available where I live.  I do have an acrylic S10 and when I tried to set up wifi and qobuz it struggled to buffer.  could be something I can work around.  it may also be my distance to the wifi signal.

I have a huge collection of LPs and CDs.  My father passed about 10 years ago, I have all of his LPs, there's some real gems in there.

I've also thought about doing an overhaul of cables.  And, I do plan to re-tube the ARC when it gets closer to 2K hours (at about 1100 or so now), and I'll probably put different pre amp tubes in the BHK at the same time.  

Thanks again!

DAC!

Honestly all your  components are capable of crystal clear spud

i would recommend looking at vibration control

This has a great impact on clarity

vibration control takes the fuzz off the sound and your left 

clear music 

Good luck Willy-T

I'd say a good digital source or power conditioning depending on how your utilities are.  A new source is a little more fun, right?  But power conditioning would give your system a good foundation.

The Magico A5 is the strength of your current system build around them. The cartridge and CD player appear to be the weak link, as for cables keep the speaker cables/IC’s from the same brand. IMO Nordost cables adjust to the component to bring out the strengths while adding very little coloration. Finally find out what electronics have the best synergy with the A5.

Just another two cents:  If vinyl is your jam and Rega P6 is about where your budget price point is, take a serious look at the Mofi TT's (i.e.  more bang for your buck).  Also, if you don't already have a record cleaning system I would seriously consider one (i.e.  ultrasonic).

As virtually everybody has suggested, get a new turntable/arm/cartridge.  Plan on spending in the $5 to 10k range.  If that's beyond your current budget, then save up until it's doable.  Don't make any half-step moves!  Also sort out your cables.  Definitely go balanced where applicable and try to stick to only a single manufacturer.  You don't have to spend large dollars to get good sound from cables.  You might even want to sort out the cables first because it will allow you to better evaluate subsequent changes to your system.  Finally, there are better CD players.  Prices vary, but there is good value in Marantz, Denon and Teac/Esoteric models.

Everything I've suggested assumes you have already paid meticulous attention to loudspeaker/listener room positioning.  It doesn't cost you anything but time.

Good luck!

P.S.  Is there really a Capt. Janeway statue in Bloomington?

I recommend that you start with a new cartridge; Ortofon Cadenza Bronze. From there go with a new table, perhaps a Rega P8 if you like Rega. I have a new P10 as one of my tables and I like it very much. After the table, I would begin experimenting with cables.

I agree with those who recommend starting at the source, TT or DAC and Transport. 

Whatever you do, don't waste your money on cables or power cords. As long as you've got OFC cables, nothing you buy will change the sound AT ALL, save for longer runs that may need 12AWG instead of 14/16AWG.

Get off the Rega wagon. Look to other tables and a better cartridge.

I'll throw my hat in the ring.  Working off your desire for "more clarity, more crystal clear detail, maybe lower noise floor".  The TT/cart recommendations are spot on.

You didn't mention what everything sits on.  A Quadraspire SVT stand will clean up a lot and give a lower noise floor.  Puritan Labs power conditions will clean up a lot and give a lower noise floor. 

That foundation will allow better assessment and appreciation of further upgrades.  Until vibration and power nasties are addressed, you will be spinning your wheels somewhat.  Have fun on your journey.

@squared80 -

"Whatever you do, don't waste your money on cables or power cords. As long as you've got OFC cables, nothing you buy will change the sound AT ALL, save for longer runs that may need 12AWG instead of 14/16AWG."

         Yet another example of willful ignorance?  OR- is it (actually) ignorance of the truth/facts/science, gleaned since the 1800's, regarding electricity?

                                Either way: worthy of only one, "tsk!"

The real question is if squared comments are based on experience or conjecture. My guess is that he has no actual basis for this opinion. 

Squared just pops in with his many anti-cable posts.

For the money, hard to sonically beat MoFi Ultradeck + MasterTracker cart combo.  Lots of positive reviews.

- Get rid of the Cary Audio CD player and get a Technics SL-G700M2 SACD/CD player+streamer+dac unit.

- Get the Daniel Hertz Master Class Software and convert digital files with it. It will get you to the sonic equivalent of master tape and you will no longer need a TT or vinyl.

- Get a Audioquest Niagara power conditioner.

- Treat your room.