Best bang for buck upgrade to my system. Advice please

Thanks @ChrisSU ChrisSU. This is a really useful summary. The background is that I love my system (15 years old now) but my hand has been forced - the NAC122X got wet and stopped working (is with the service department) - so if that’s not going to be economically sensible to fix then (pursuant your advice) I might upgrade that. To what pre-amp I’m not sure.

If I can get the NAC122X fixed I might take @bruss advice and get a Hicap (a 2?).

The dealer suggested a 250DR and that seemed to come out of the blue rather. Thanks to the feedback here I’m beginning to understand how these things work together and first principles.

I always coveted the next speakers up at the time the B&W 800 series but the general vibe I’m getting is that they’re OK.

I don’t have masses of money.

CD5X is acutually a very fine player pretty close to CDX2 for SQ. Same dac, and mech like the bigger sibling bar component selction and supply. My advice is going for this + FlatCap or HC-DR for the pre. if the budget was available, 202/HC/200

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