$40,000: What 2-channel system would you build?


If you had $40,000 (USD) to build a system from scratch, what would you assemble?
Used prices or new prices are welcome.
Solid state, tube, mixed ideas are welcome.
Speakers?
Pre?
Power?
Source?
TT?
Cables?
...let’s say for a medium- to med/lrg- sized room...
...no need to worry about sound treatments or power conditioners, let’s assume that’s taken care of...
Would love to hear what you would build and why you would build it. If it’s what you already have built, great. Share why you love it.
Thanks in advance for any of your builds :)
jo1mtb
@gdnrbob  
Price can be either. I agree on the pricing of TA cables... but, I do like them. 
+ @erik_squires 
What do you both like about the Vanersteens? 

I've heard vandersteen, run by my Ref 75 (at the time). Treo or Quattro Carbon (CT)... I can't recall which, but it was about a year ago and current model.  I thought the sound was nice, a bit less fwd than I'm used to with Wilson and Focal.  I would say it was a nice sound one could listen to all day.  
I'm a little gun shy on the Vandersteen external cross-overs, dura-cell batteries, etc... Seems a little McGuyver to me.  But, can't argue w/ the sound and the price.  I liked the sound better than Sabrina, not as much as Sophia 3 or Sasha.  

Thanks!
@OP,
What you enjoy about a speaker is yours to enjoy.
Don't let me or anyone try to convince you otherwise.
What I will say is that dollar for dollar, in my estimation, Vandersteen exceeds whatever most manufacturers offer. And, though the external crossovers may not be the most elegant visually, they perform their functions in a most elegant way technically.
What do you both like about the Vanersteens?
I think your post answered your question...
 I would say it was a nice sound one could listen to all day.
I think that summarizes what I like about the Vandy's.
I tried a few set of Zu speakers, too. Thinking that a speaker without a crossover might offer a less compromised (electronically) sound (like you referred to 'McGuyver-ish'). They were very good, but lacking in a subtlety that is hard to put into words (think of Dr. Evil 😉).
When you pair Vandy's with either their amp, or Ayre or Atma Sphere, and use Audioquest cables, they really come into their own. (Zero feedback amps really seem to make them sing).
Bob
jo1mtb:
@millercarbon  I like your thinking.  Thanks for sharing your thoughts, especially on the TT.  I know almost nothing about that, so thanks again.

I also really like you're more balanced spending approach.  I could be guilty of putting half in the speakers and then pinching a bit in other areas.    

I ascribe to the 'build-around-your-speakers'- thinking.  But many would agree that starting with the source is the best way.

I definitely would like to get into a TT, but my vinyl collection is little and very old, and not sure how well it has aged.  (Navy storage while overseas and then when retired for another year)

Why the PrimaLuna?  If I'm honest, I'm leery.
 

Number One thing to know about turntables, they are forever. Unlike digital which comes with a shelf life of like a week. (If that.) My current Miller Carbon turntable (very old version here) https://www.theanalogdept.com/c_miller.htm still satisfies (amazes, actually) more than 15 years later.

Related to this, turntables hold their value. My previous table, Basis 2000, sold after 10 years for about what I paid for it. My first table, Technics SL1700 (still with me) is worth more now than when new. The Graham arm I had before my Origin Live also sold after many years for something like 75-80% of purchase price. Compare that to digital at ten to thirty years. Not even good as a door stop.

Number Two the upgrade path is a lot better. With a good turntable you can individually upgrade the arm, or cartridge, and $5k for a great arm or cartridge is a lot easier than $15k for an all-in-one type deal.

As for your records, the truth is that while no two are created equal the good ones from back in the day sound better than the new "audiophile" reissues, almost always. Yes analog is a little more work. But not one single person who has heard them compared in my room has ever preferred the CD, including even back when it was the old Technics vs Cal Audio. By the time you get to a $5k rig you can just about throw a dart and whatever you hit will trounce any amount of digital gear. (When you hear otherwise, consider how much they spent on digital and how unlikely people are to admit they made a mistake. Been there. Done that. No more throwing good money after bad.)

"Build around the speakers" goes back to olden times when everything was crap but speakers were crappiest of all. Back then the wires were so crappy that no matter how good your source or speakers you couldn't get that signal from one to the other without it being smeared half to death by the crappy lamp cord and patch cords. So what you heard back then was for the most part the speakers, and it was worth putting half or maybe even more of your budget into just the speakers. Well what else were you gonna spend it on? Thicker lamp cord??

Nowadays even inexpensive speakers are so good you easily notice every change upstream, and the really good speakers are so transparent they pretty much disappear. Yes there are differences. But in all cases they are basically putting out what you feed them, and so it is much more important to feed them a really high quality signal. 

At the same time power cords and conditioners have improved immensely. Even something as seemingly small as a fuse can make as much difference as a major component upgrade. Every single element in the chain, and even things seemingly not in the direct signal path like power cords, impacts system sound quality. For all these reasons it just makes no sense to put too much emphasis on any one component.

Prima Luna, never have heard it myself. But I have read the reviews, and posts, and have a lot of experience with amps based on the same tubes. Tube amps, unlike SS, tend to be very simple affairs circuitry-wise. My previous two amps were Aronov and Melody, both about 60 wpc, both integrated, both 6550C or KT88. Prior to these I had a McCormack DNA-1, a very fine amp I can say nothing bad about. The tube gear is just a tiny little bit better. But here you get into details like integrateds are just plain better for the money than separates. Problem is, since wire matters, its not just the pre and power amp but the power cords and interconnect that all added together eat up your budget. 

Tastes vary but I have no doubt the system recommended above will more than satisfy an awful lot of people. For sure no one will beat it with anything that does not pay equally detailed attention to all aspects of the system- not only wire but right down to the fuses, HFT, and Cones. The Tekton Moabs I do not have but am strongly considering to replace my (much more expensive when new) Talon Khorus. What I have recommended above is way beyond a mere component list. It is a very high-value, no-apologies, and complete system.


@millercarbon   Wow!  Thanks for the thoughtful reply.  You may be swaying me on the balanced (which I already fully agree with) and TT source.  
Hmmm. 
Giving me some hope about the vinyl.  Plus, I think it may be fun trying to find old vinyl at garage sales and small shops... I also like the idea of being able to make partial and incremental upgrades to the TT.
Hmmm.  When I rebuild I might just start with the TT.  But, I do think i'll still anchor around the speakers :)   
Yeah. I like tubes myself.  
I'm sitting here listening to Simaudio Moon 700i integrated.  I just got it in yesterday.  It has been playing 22 hours straight.... still doesn't sound very good.  I'm guessing/hoping it needs another couple days of (re-) burn-in.  It certainly is not as good as my Ref 75 (KT150s) and Ref 3 (w Sain Reference PC).  Always surprised; that the SS amps don't really make up in the bass for what they give up in the mids/highs.  
...but then again, as you mention, it's about half the total price once you figure the cost of pre/amp and +1 PC and +1 IC.  
Thanks again. 
Honestly I don't remember. What I remember is that most of the rooms were awful, I heard $100K+ stacks of Esoteric and other gear and that the Vandersteen room was till way too expensive for me, but at least it didn't grate my ears.