The $5000.00 Complete System Challenge

I agree on the integrated amp vs separates in this price range. I would spend about 1K on cd, 1.5-2K on integrated amp, and 2-2.5K on speakers. If you are willing to sacrifice the lowest octives, you are going to get better sound per dollar out of stand mount speaker's, although the Maggie's suggested above are a great audio bargain. All suggestions are just rule of thumb, and most rules can and should be broken in pursuit of better sound.

If you like Rega then stick with it. An Elicit, used if you can find one, or a Mira (integrated instead of separates for $$). Saturn CD to complete the Rega stack.

For speakers, honestly, I'd go with Dali Mentor Minuet. Sound MUCH larger than they are. Could probably find some floorstanders for the money left, but you hate to scrimp on quality at the speakers. Maybe you don't get the absolute bottom octave, but the rest is in spades. Can always add a sub later when budget allows.

Should have a little left over for cables, nice pair of stands, etc.

Thank you everyone for your posts! I have received a lot of personal email as well and it seems that the majority of responses suggest spending a majority of money even as much as $4K of $5K on the speakers. With a decent P7, and a "best buy" integrated amp already, I will strongly heed this advice and upgrade further after the speakers.

Now.... perhaps the next question will be what's the best pair of speakers for $5K. I listen to mostly classical, piano, strings, jazz, blues, and a spattering of classic rock.

Thank you all for your responses and advice. Please keep them coming!

You will get better help if you tell us a few more things - what integrated are you using, room dimensions, speakers on the short or long wall, how far apart from each other, how far from the back wall can the speakers be, how far from the speakers to where you will sit to listen, monitors or floor standing, how deep do you need the bass to be? Carpeted or hard floors? And a tougher question but quite important - What "kind" of sound are you looking for?