I can understand how you might think this but is says more about how society has changed than how the hifi industry has changed. Obviously, there were no student fees in 1997, and living in London there was no shortage of employment opportunities. Yes, £150 was a lot of money at that time but I earned enough after working every hour possible to buy a good hifi and plenty of vinyl too! Although I did well academically it was not due to keeping out of the bar or the 24 hour snooker halls!
I never did buy any ESL57s but have had a variety of Magneplanars which deliver much of what I liked about the Quads as well as better bass slam.
Geoff