@soix
+1
Definitely, everything matters. However, some things are of top importance. First the speakers, the placement and the room. Then acoustics and the electronics.
But it still depends. Like you want incredible holographic sound out into the side walls. and deep past the .. Bermeister amp and preamp with top of the line dCS or similar electronics... or high tier Wilson / Rowlan with great speakers... Sonus Faber, Wilson, or Magico.
I have heard many systems like this... with your eyes closed you would never have a clue as to where the sound was coming from.
My system does this... it is warm and natural sounding... versus the sonic spectacular you get with my examples above. Above you get ultra detailed and somewhat unreal and spectacular... incredible three dimensional space. I always go away in awe, but would not want it in my audio room. So, you must be careful on the flavor you choose.

