what is more important ?

Hiya ,

Just wanted some views/opinions on what is the most important piece of equipment in the reproduction of sound/music.

I know and have heard that the dimensions of the room has the biggest impact but what about the speakers, amplification, and source... which one would give the biggest sonic differences(for better or worst) if replaced ?
If my current system needs upgrading which part of the chain should I focus on first to get the best 'bang for my bucks' ?

Cheers all

For me it is the preamp. While the loudspeaker will change the sound to a much greater extent, I find those changes broadly consonant with the fabric of the music. 

I find the electronic distortions of electronics much more jarring to my ear, even in lesser quantities.

I done some research I found out that a mains conditioner could be the solution to my inconsistence performance issues, but some of them are quite expensive... seems that this Hifi hobby can be never ending and I am learning new stuff everyday... thanks guys for all your advice... really appreciate it.

Cheers Guys and Gals
hiya Folks,

do interconnects and speaker cable make any significant difference?

The reason I am asking is because whenever I ask staff at Hifi shops they are always trying to flog me expensive cabling.

Cheers again
Cables make very minor differences, and that's what actual measurements reveal. 

This hobby gets most expensive and frustrating when legitimate analysis of what you're hearing isn't taking place, but rather, going to forums and pitching questions about what equipment will do what to achieve your goal, or just blindly buying gear with no grasp on what it does on a basic technical level. 

I recommend starting small and simple and learning for yourself. Nobody can actually explain to you what different distortion sounds like, and that's what distinguishes one system from another. 
Yes but they are close to last on the list.