I am also from the same generation, Hierarchy: source - preamp - power amp - speakers.
For me that has always worked and would still advocate get the best source you can afford
To paraphrase a Scotsman from another place “garbage in, garbage out”. The amplifier can never improve the sound from the source
Totally agree. Back in the day the advice was get an LP12 first, with a basic amp and cheap speakers. Then get a great amp. Then get great speakers. You end up with a balanced system but enjoy great music on the way. It has a logic which both resonated in theory but actually seemed to work in reality. I remain convinced to this day.
I very much like the idea put forth some years ago by Roy Gregory and his Hifi+ cohorts - in that the usual view of component importance - can be turned on its head.
That old 20% rule of yesteryear spend on ancillaries.
That they put systems together with big budget cables and supports, with modest capable boxes caused great interest for me.
The balanced system was the cables and supports.
The boxes and speakers could perhaps acquiesce.
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