Most of us will be familiar with the old rule of thumb for ranking the importance of the components of a system in order to obtain maximum sound quality for budget but if not I will reiterate it:

1. The source (if a TT it goes turntable - arm - cartridge)
2. The amplifier(s)
3 The loudspeakers

Now if it was ever true it is all abit simplistic and out of date. Here is my proposal for a new, more complete ranking:

1. The recording (quality of recording, mixing and mastering and, in the case of vinyl, the pressing
2. The efficacy of the room/loudspeaker interface
3. The efficacy of the amplifier/loudspeaker interface
4. The source
5. Relative freedom from airborne and structure borne vibration (placement and supports/stands)
6. Synergy or otherwise of the cabling used
7. Quality of the mains feed, plugs and distribution boxes used.

The idea is that this is a hierarchy that can be used to assemble a system of whatever budget (as was the original) in the most cost-effective fashion. For example a wonderfully competent turntable will not help if the system has nasty booms caused by bass peaks due to the loudspeakers just not working with the room so it is best to tackle each element in its correct order.

Opinions, agreements, disagreements, changes? Whaddya got?