what should I upgrade next?

Rich,

Thanks for you answer. The sound from my old NAD 302 had better low freq response to the front speakers. The NAD T753 receiver doesn't come even close. Of course the sub can compensated for that, but I have the feeling that I am not getting the sound that I expected from the front speaker (I cannot really compare the rest of the speakers, since I never had HT setup before). I played with the crossover settings, I also removed the sub completely but the front speakers still did not performed as well as on the NAD 302. Maybe this is just a fact and I have to live with it. Or maybe I should used the pre-out (for the front speakers) on the receiver and connect them to the 302 - that way I will be using the 302 power amp and this could be a solution.
Then there is also the hiss issue, which my old 302 did not have. I read about it in the forums before I made the purchase, but my understanding was that this was fixed with the new version (T753, software version 2.0). I am waiting on the new receiver and if it has the hiss again, I will try to return it and get something else.
I spent almost 3+K on the setup, and now I don't think it was worth it.
All this combined triggered this post - I think I messed up somewhere with my hardware selection and that's why I asked for help.
Sorry for the long post.

you are probably correct about the DVD player - maybe I should upgrade it next (it's a 5 years old Sony and it costed around $250 when I got it - so I don't think it matches the rest of the equipment in terms of quality).

Talking about DVD players - I believe if I just buy a good DVD player, I will not need an additional CD player, correct? I guess what I am asking is, is it worth to buy a DVD player and additional CD player? Will a good CD player be much better in reproducing music, than a good DVD player?
I guess I have to many questions...

Rich

What you said make sense - I will wait first for the new receiver to see if it will be any better and then I will have to talk to the dealer to see what my options are. I went to the Arcam web site - they have one dealer in the whole US - I don't like that. I am also considering Rotel. Another option will be to buy separate components from Nad - I did not find a bad review about those. Yes it will be more expensive, but I can trade my T753 for a T163 pre-amp ($200-300 more) and then buy a used power amp.
Or maybe I should keep my T753 and just buy a used power amp - the problem is that I don't know if the hiss is coming from the pre amp or from the power amp.
It's not easy, let me tell you...

i am using monster cables for now - I will upgrade them in the future and we will see.