Should I upgrade my preamp/amp or my turntable?

@markusthenaimnut i would love the L-509x but my budget will probably only stretch to the L-507uxii I’m afraid. There’s a guy here in Oz selling a slightly used L-509x for $9000 AUD and even that’s out of my price range! I will just have to keep saving and hoping I can pick up a bargain when the time comes I suppose. 
You’re right though, it’s a very beautiful pice of kit.

A  Luxman integrated should be wonderful. I have a friend who has one of their very expensive integrateds (590? 509? Sorry, I don't remember which. It's about $9K USD list) and it sounds wonderful. A very beautiful piece of equipment, too.

Audio Research just released an integrated amp for $5K the i50, or Luxman is highly regarded.

I probably should’ve worded my question better…sorry…my consideration is to upgrade both my Musical Fidelity preamp and Rotel power amp and move to a Luxman integrated…whilst I am sure the Audio Research would be a major upgrade on the Musical Fidelity I’m quite sure the Rotel would never do it justice and I would probably not be able to afford a power amplifier of the same quality for quite some time…wife and budget permitting…actually that’s sort of the same thing ;)

but I certainly appreciate your advice, and Russ69 too, many thanks to both of you

I would definitely first upgrade the preamp… it effects all. I would look for a used Audio Research preamp at the top of you budget. Incredibly natural, musical, and detailed. Alternatives Conrad Johnson’s, VAC, Cary. The center of a great system is the preamp. Over fifty years pursuing the high end has taught me that.

At this time digital can equal vinyl (with careful selection and investment). So additional steps can be determined later. But regardless of what you choose your preamp and amp… and speakers are going to determine what you hear.

I love listening to my outstanding analog end (I have over 2,000 pristine albums)… but my digital sounds just as good… so I listen to it 95% of the time… with a nearly infinite library… Qobuz… at the cost equivalent to buying a CD per month.

I'd upgrade the TT and cartridge first. A good TT is always a component that adds to the audiophile experience. Pride of ownership. Plus, next to loudspeakers it will give you the biggest change. 

Thank you, that’s the way I was leaning also. The added benefit will be additional funds I can put toward the purchase by selling my existing preamp and power amp. 

Given your priorities I would upgrade amplification first. This will reap benefits for both formats.