The more I think about it, the more I realize that the first component to consider really is YOU. Others have said it and I agree.. you have to know what you want to a degree. Ken, I think you're at a point where you've heard a lot, gotten some good 'tastes' of what's available and are ready to rethink your goals with hifi. I think we all do this and it's actually a very fun part of the hobby. You get to re-invent your system.
When I started getting really serious about this hobby in the 1990 or so? I wanted a big, live sound so I bought a big Onkyo integrated amp and Klipsh KG series speakers... I got BIG sound. I traded all that in for an HK integrated with DCM Timeframe speakers... a very fine sound.. My friend Allen described it as going from 'buckets of slop to cutlets of veal'...
That comment stuck with me forever. By the mid-90's, I decidely wanted a 'lively' sound but not as in-your-face as the Onkyo/Klipsh but with the finesse ability of the HK/DCM combo. I ended up with B&W minipods, which were in the ballpark.. then Allen helped me find a B&K ST-140 and let me borrow a Hegeman Hapi preamp. Now we were getting somewhere!
I was finally able to start talking audiophile... and I could understand 'headroom' and what was possible.. and could speak more about what I wanted in a system.. and more importantly learned that what I was hearing was a system's presentation. Once I knew that, I could identify or get better advice not only on speakers but systems that had the sound I liked. Allen recommended Snell's designed by Kevin Voecks at some point.. and funny enough I ended up buying a Voecks design by the late 90's... the Revel F30's. Really fun speakers, lots of oomph, just a pleasure to listen to (until I moved). The move made me realize how important acoustics were. I knew but wow, then I
really knew.
Knowing what you want is one thing.. but recognize that it's a learning process.. and once you get what you think you want, your tastes may have changed. Allow for that and enjoy what you have no matter what. Worrying about whether it's good enough only matters when it annoys you, when you're by yourself, listening to music... Not being able to enjoy your music alone sucks. Having others poo-poo your system is only mildly annoying.. not really a big deal to me... and if it's constructive, much appreciated!
It takes time to learn what you like/dislike and be able to describe it in terms that someone else will understand. What I call warm someone else might call bloated, etc. I've almost stopped trying to describe what I like and just listen and identify what I hear. Doing that keeps me objective.
OK, rambling over.. back to work....
-C