Excellent thread. Clearly, all the components of an analogue system are important. But, I think it is an inescapable truth that speed stability is essential for good analogue playback. It is with good speed stability that the most basic elements of music can be reproduced correctly. Without it, no amount of any other kind of resolution will let you hear things like groove, feel, and expression in a performance, the way that the performers intended. Rhythm is THE most important element in music.
So, in absolute terms, the turntable has to be the most important.
So, in absolute terms, the turntable has to be the most important.