What is the most important component in your system.


To me it is my ARC Ref 6 preamp. I have used a few other preamps, ML38s , ARC Ref 5se,  with my current system and none has taking me closer to music then my ARC Ref 6 preamp. Years ago I always thought it was my B&W 800 Matrix speakers and then my Krell FBB amp. But found out that to get the best sound from my 800s it is a preamp..Years ago i never knew how important a good preamp was in reproducing music. And sure everything adds up ,like interconnects , power cables , speaker cables, platforms and all those tweaks that we use and try. Now i not saying that i was never happy with my 800s and Krell or even my ML 38s. But adding my current preamp really makes my other components bring out their best. 
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@elizabeth ....... You said...... Who would have thought the outlet could change the sound so much.....I totally agree... Why dont you go into more detail about it in the { Changing Receptacles } I totally agree.... You are using the Furutech Gold and i am using the Rhodium. I would love to hear an in depth review from you... 
The room and treatments. 

Without that, everything else is just bragging about how much you spent. 
@erik_squires ...........  I disagree.... I do not think its about bragging.. I think that we all are in search of the best quality live recording performance we can possibly try to achieve. And if we believe in trying and buying our choice of equipment or tweeks that will take us to that level i do not think of it as bragging or how much we spend. Just my 2 cents, 
OP:

Sorry, I was being a little hyperbolic. :) 

What I meant was that without good room acoustics, you are never going to have a very good environment in which to listen to equipment. Mind you, the ear brain mechanism is complex, and discerning, so even in a bad room you might be able to tell differences in components, but spending a lot of money in equipment you'll put into a bad sounding room is, in my mind, misguided. 

Make a great sounding room, and then you'll be able to enjoy a wide variety of speakers, and be able to hear the subtlest of benefits. 

Best,

E