[QUOTE=bturk667]In my previous post about what would you rather have, most people opted for the speakers, very typical. It seemed that they did so based on differences.

I did so based on experience rather than differences. You're correct in that differences aren't always good. But I've had more success in the past putting systems together when I built them around the speakers instead of around something else.

Since this post is a little different than your last one by including analog, my answers are slightly different:

$5K system - I'd put 50% on the speakers:
$2500 - speakers
$1500 - analog front end
$1000 - amplification and digital front end.

$10K system - This one was the most interesting because I could be specific in my mind as to the components I wanted. The speakers I'd want are $4000 so my percentage would drop to 40% on speakers. I'd jump up the analog front end to $2500 and I'd put $3500 into some tubed amplification and the digital front end.

$20K system - Pretty simple. My speakers are $7500 so that's 37.5%. Analog front end would go up to $5K = 25%. The balance I'd put into amps and CDP's = 37.5%. I could get some pretty choice tube amplification with $7500, although I'd hold out a few bucks for a digital source.

In my make believe systems, I'm still true to my original premise even though the speakers percentage drops. I first find the speakers I want and I then surround it with the ancillary gear I want and that fits my budget. I'm not saying that the speakers become less important as you move up the ladder. It's just that I have yet to hear the speakers that sound better than the $7500 pair, no matter how expensive they may be. If I preferred, say, the Whispers, my percentage would change drastically. Also, if we were only dealing with solid state electronics, I'd have no need to spend $20K on a system unless I increased my turntable budget to around $8K... which I could do easily given the opportunity! But I've found the laws of diminishing returns kicks in heavily with SS electronics and even more so with CD players.

The bottom line is that IME, putting your speakers first will yield the best sounding system for the money, assuming a normal amount of care and expertise in system matching. My current system would have retailed at around $19K if I had bought everything new. The only new piece was the CD recorder at $700 and the phono cartridge at $950. The rest I got at an average of 50% of retail. And until some other component comes along and blows away what I own AND I can afford it, I'll be using this system for a long, long time - no upgrades in sight.