Equal $$ for Phono OR Streaming?


Consider the following situation. A friend who's watched me put together my system has decided to follow suit. He's inherited some very good speakers and amplification (no DAC) from a relative and has about wants to finish out the main elements of the system with the best possible source. He has about $4-6k to spend and wishes to spend it on either a phono stage/TT combo OR a DAC/streamer combo. (For content, he is willing to spend either on vinyl or streaming services to fulfill whichever path he chooses above.)

Focusing simply on the potential for sonic quality (rather than, say, the variety of music one can stream), where do you think his money would best be spent and why? Could he reach the same outcomes after spending on a TT, cartridge, phono stage, record cleaner, isolation table and all the other accoutrements necessary for a good phono set up as he could if he bought a good DAC, streamer, etc.?

If your tastes weigh so heavily toward analog or digital that you can simply decide this without considering the details of the comparison, please try to set those aside and answer based on what he might be able to get for $4-6k.

128x128hilde45
If he isn't sure if he should go vinyl or streaming he should probably go with the streamer. I am a vinyl guy but also have a streaming rig. I prefer vinyl and have put more funds into my vinyl rig. That siad, I would agree it is more expensive comparatively. Also, your vinyl collection effectively becomes a walled garden. I can't imagine not having both options at this point. $4k to $6k would buy a very nice streamer and DAC or an all in one unit. If he is having trouble deciding then I say get rolling with a streaming rig and do some long term research to piece together a solid vinyl rig over time if he still has the interest after the streamer. 
Really good topic. Both my vinyl and digital set ups are right at the upper end of that $ ballpark. I know you’ve asked us to separate initial component costs from enduring software / accessory costs but when you include a cost ceiling it’s sort of disingenuous (maybe that’s too strong a word) to tell us to make that separation when the ramifications (e.g. future costs) are so so significantly different. Honestly, I love listening to both my rigs - to have $4-6 K to spend on either option is a luxury I’m glad he has.

Matt
If you have a lot of vinyl already, spending on a good phono preamp is wise.

Otherwise, the future is digital, spend it on a good streamer.

R-pi plus Allo hat for £150. Khadas DAC for £90. Roon plus Qobuz for £25 a month. Less without Roon if you can bear it. 
My Bricasti M5 streamer with ENO filter on the Ethernet input, way outperforms my MoFi UltraDeck, which now never gets used.