B&W Matrix 1 Series 2 - Should I buy something more efficient?

I'm still in my infancy in the high end endeavor.  I own a pair of B&W Matrix 1 Series 2. Currently powered by an outdated/underpowered entry level Pioneer reciever. I also have a 12" Dayton Titanic powered by a Dayton SA1000.  Trying to decide where to go next. I plan to continually uprgrade this system.  I understand that the B&W's are power hungry (and old).  Should I buy more efficient speakers and build my system around those, or spend money on a strong amp and stick with the old Matrix's? Also, where would you go next with supply chain? Find a cheaper pre,  or buy a receiver with outputs? I wonder if my room wouldn't better benefit from a reciever with equalization. 

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The Matrix 1 is a very inefficient 4 ohm speaker. And yes, you have it seriously underpowered. Forget receivers, that speaker needs a high current amp ~200w/ch. Unless you plan on spending some serious cash for an amp, I would get a different speaker.

Acoustics first, EQ second. :)

Contact GIK acoustics for advice. Good acoustic treatment will last while you may change speakers and electronics several times. :) This may also give you better sounding bass, making it easier to listen to great sounding 2-way speakers. This is also my first suggestion.  Get great 2-way speaker pair with good bass and good room treatment. This lets you keep your receiver, get great sound and prepare you for upgrading. :)

As for EQ, yes, but you’ll loose the B&W sound. Also, B&W’s tend to measure most neutral around the midrange axis, or lower. Either sit lower or tilt them up in the front. They may also benefit greatly from EQ and phase correction like DEQX or DiracLive alternatives. The diamonds would, but not sure about the Matrix.

Another route is something like the Parasound integrated? Plenty of power, nice built in DAC and I believe subwoofer out. I think Bryston and a couple of other brands have also recently introduced high power integrateds that cost less than a car. Check for subwoofer outputs too.