Hi,
I just finished helping to put together a first system, where good sound was paramount, for a young friend of mine.
It was quiet tough to get decent sound within his budget, but we managed it. I will list below the items we auditioned and from which the final selection was made.
I think this is a good place to start for anybody who would like to put their foot on the first step for a 2 channel music based system.

Source:
Digital: Marantz CD 7300 or Cambridge Audio Azur 640C

Vinyl: Project 1 Expression or Goldring GR2 (Both come with cartridge)

Phono amp (Optional): NAD PP2

Amp: Cambridge Audio Azur 540A (Phono optional) or 640A (Phono optional) or
Marantz PM 7200 (Phono as standard)

Speakers: Acoustic Energy Aegis Evo 1
Epos EL S3
Wharfedale Diamonds 9.1
Castle Richmond 3i

IC: Ecosse-The Composser

Speaker cable: QED-Silver Anniversary

We were impressed with the Castle Speakers but getting them and two sources (as was planned) was going over budget. So a compromise was made, and he ended up with the Castle Speakers, the Cambridge CDP and the Marantz Amp. When his piggy bank has recovered the Vinyl front end will come.

So he's a happy camper now and I have learned what is out there in Start up land.
Hope this is helpful to somebody starting out.

The power of music gives you wings

Bernd