To turn off or not to turn off

That is the question. I have always left my components on, because I heard that they would pay me back with greater reliability. The theory goes that electric/electronic hardware takes a big hit every time it is turned on.

However, I don't listen to the equipment through the night. And the equipment is using electricity and converting it to heat while idling. Besides the waste, would it be better for the equimpent to be turned off when not in use?

What do you think?

Dan C.