Would my system benefit from cable upgrades?

Yes upgrade to TARA LABS ASAP!!

I’d try some interconnects first.  Lots of direct sellers offer generous trial periods so it’s relatively painless to give some a shot.  I think your equipment is well able to benefit from upgrading all manner of cables.  

For your first pairs of cables you buy, recommending you start with decent OFC interconnects (ICs) for the primary source you listen to the most; first. Particularly with the Vincent integrated amplifier you have. Note: I tested the same ML40s you have in my home theater, and they are sensitive to better spkr cables, particularly with the grain or smoothness coming out of the AMT. Recommend locating good used ICs and Spkr cables starting out, can be a better value and result for less $.      

Thanks for all the advice, I will look into these options.

@jay73 

It would help were you to give an indication of your budget … 

You're right. I would say on budget for cables: $2k to $3K

i would improve room acoustics and dedicated ac lines before doing any cable upgrades.              when you get those things taken care of, then you could look into different cables.

treat the room first.....

+1 riley and soix.  Research options for room treatment. Regarding cable upgrade I would focus toward the interconnects starting between sources and amplifier. Stick with quality copper. Which audioquest speaker cables are you using?

@mesch 

Audioquest Type 4 Speaker Cables and NRG-Y3 Power Cables.

Try these interconnects between your DAC and amp. They are excellent and I think you’ll be very impressed with the results, but if not you can sell them with little/no loss.  In any event, it’s a great and near risk-free place to start experimenting.

https://www.usaudiomart.com/details/649798116-acoustic-zen-silver-reference-rca-one-meter/

I am one that has a hard time justifying the expenditure of more than 10% of the cost of 2 components on the cables connecting them. 

It is more about the synergy between cables with the components than the price of the cables.  What is it about the sound of your system you are looking to improve?

I do not believe that your combination of speakers/integrated will be revealing enough for you to hear any cable upgrade.  Don't get me wrong, I am a firm believer in cables (I run Tara Labs 'The One' throughout) but your speakers and integrated won't let you hear the full benefit, if any, of a cable upgrade.  I would upgrade the speakers first.  If your budget for cables is $2k - $3k - I'd push it to the $3k and get some good speakers (used on audiogon - more bang for the buck).  Your ML Motion 40s are not high fi at all.  You need to start there.  Once you get good speakers, save up for a good integrated. Your source is definitely decent.  Once you're there, you can go to the Cable Company - they have a library of cables you can borrow and see what sounds best with your system.  Enjoy.  

A better question, what system would not benefit from cable upgrades?

op

i am with @mesch - don’t spend too much on cables, improve your room, your components

your speaker cables and power cable are just fine, totally in line with the quality of your system... as @soix says, if you play with cables to see if you hear a positive change, try a nicer set of interconnects - buy used, under a $150 a pair, read up on the sonic traits of various brands, and adjust according to where sonically you want to take your system (more open treble? smooth out sibilance? more body to voices? and so on...)

as for @ted_denney saying "A better question, what system would not benefit from cable upgrades?"

my answer would be, a relatively nice sounding budget system with quality bottlenecks in room matching and one or more components in the chain - not to say cables wouldn’t benefit, but it is a matter of priority of what to improve first, for greatest sonic benefit

To answer your question yes the cables will make a difference. But a better path would be to sell the motion 40 then add your $2k-$3k to buy a better pair of speakers. Shop the used market.
 

if you’re really itching to upgrade cables you can try and replace your generic interconnects with something like the BlueJeans or the Mogami Gold with whatever is left of your budget. Just my take on it. 
 

Once again: 

     NO ONE can tell you whether/how your system, room and/or ears will respond to new/improved interconnects.   There are simply too many variables.

     The only way you’ll know for certain, is try them for yourself.

     The least expensive way: contact the guys at The Cable Company and take advantage of their lending library.

     For a pittance, you can try a few of their offerings and the rental fees are applied to any purchase made.

     In you shoes: I’d try the three Audience Ohno cables, currently available (RCAs/url below), between your TT, DAC, SACD player and Vincent.   With new/improved cables, in those critical positions: you should easily gain the knowledge you seek, one way or the other.    Even with your current speakers.

                   Whether to explore/spend further: up to you!

                    https://www.usedcable.com/audience_.html

                    https://www.thecableco.com/lending-library

Read this first. Then decide.

I think quality cables that are reasonably priced are the route to go.

As others have stated your room is a huge factor. You will net better results than spending $$$$$ on copper and silver and...

@mesch and @jjss49 are right.

More insight.

Your amp MIGHT benefit from a power cord upgrade....I believe something larger than 14 Ga. As for speaker cables, what you have should be fine. There's a reason they've been around forever. There is SO much marketing BS around cables. Don't fall for it.

Thanks everyone for your advice.

There are some really good points here.

I have been looking at some room treatment options but I know I will be limited to what I can do in my living room.

Also speaker placement is bit limited for me, I don't have to many options.

I wouldn't say my system sounds bad or anything, I was just looking to see if it can be improved but I will have to play around with a few things as suggested and see if that makes any improvement.