I have heard this from almost all hi-fi equipment dealers that speakers make the most of the difference, spend 75% on speakers etc.. Only one from Overture, DE said it is 50% speakers and 50% equipment that I agree.
75% Sound like a good number for a high end system.
However the leading question was aimed at preamps and amps (fuses, power cords, cables, etc.)
Most of the answers confirm with the premise of, “We hear what we want to hear.”
… what makes the bigger difference in sound quality on preamp‘s and power amps? Interconnects, speaker cables, power cords, or fuses?