In 1978:
Sony integrated amp; used circa 1968
Marantz direct drive turntable with AT cartridge (new)
Sony tuner (new)
EPI 110 speakers (used)
I had these components for 5 years before moving up.
your first system-
I put together my first system in 1977- turntable, receiver, speakers and a cassette deck- $600. An on-line inflation calculator tells me that is $2760 in 2022 dollars. I am sure a current $1500 streaming based system can be assembled that would demolish my 1977 system. That's what I call real progress!