I've been building and upgrading my system for the past 5 years and have found something I can live for for a while. if I do any more upgrades it would a pair of Wilson Audio Sophias and possibly a better speaker cable.
System Updated: Upgraded CD to Pre interconnect from Transparent Reference to Transparent Reference XL that is output and input impedance matched. Major improvement in dynamics, soundstaging, air and definition throughout the audio spectrum. The recording venue also became more apparant. The cable takes about 200 hours of break in to bring out its best. Highly recommended.
The Sophia 3's are one of the easiest speakers to drive. The Cary 805's are really magical with them. There are no bass issues and the mids, & trebles are very liquid and natural. Although the efficiency figures on the Sophia's are low, 87db, that's just a number. The soundstage is is truly 3 dimensional and it seems as if the artists are in the room with you. What's more the Sophia's are very is to setup and not fussy. I prefer the 211's over the 845, which have better detail. LAMM makes realy good componenets. Last year at CES, I listened to the Wilson/LAMM set up and it was really awesome. Highly recommended.
Sorry for the late response. Haven't been on A'gon for a while. I'm sure you've heard this before, but the best way to figure out what works is to try it in your system. Cables are very system dependent. For instance, I had Nordost Tyr with the Thiels, but when I upgraded to Wilsons, they were not the best match. Cardas in general makes very good cables. They probably are one of the best values today. As an alternative to the Golden Ref, I would also audition the Cardas Clear cables. They are very refined. From my most recent experience, I would highly recommend that you also give Transparent Reference cables a try. They are more expensive than Cardas, but you'll probably be pleasantly surprised. Hope this helps.
System edited: A lot has happened since 2008. I now have a completely new system. What began as a simple speaker update turned into a complete project. First off, I replaced the Thiel 2.3's with Wilson Audio Sophia 3's. In doing so, the speaker cables I had (Nordost Tyre) which worked well with the Thiels, didn't do as well with the Wilsons. The sound was a little bright & edgy with not a lot of bottom end. After a long and exhausting search and speaking folks in the industry, I settle with Transparent Audio Reference MM2. Then came the amp upgrade. I had enjoyed the Conrad Johnson Premier 11A for close to a decade and thought it was time to try something different. I chose the SET route and settled with the Cary 805AE. An amazing amp and an amazing change in sound. Then came a significant upgrade to Analog playback system. I moved up from the VPI Scoutmaster to the Grand Prix Audio Monaco. The GP Monaco is probably one of the most well kept secrets in high end audio. This table is the one to beat at ANY price range. In choosing an analog rig, I listened to the Clearaudio Master Reference, Continuum Criterion, VPI HRX, Avid Acutus and SME 30/12. To me the Grand Prix was the best all around table when it came to sound staging, retrieval of detail, speed accuracy, transient response, dynamics and overall balance. Combined with the Tri-Planar arm it was a fantastic combination. For a cartridge choice, I settled with a Benz Ebony high output MC. The phono stage choice was a tough one. After auditioning the Boulder 1008, Burmester 100, Jadis DPMC, I settled for the Audio Research Reference 2SE. It had the best of both tube & solid state virtues. Amazing soundstage, wonderfully transparent, extremely quiet, simple to use and above all very musical. Since the Transparent REF MM2 worked so well in my system, I settle for a mix of REF MM2 & REF XL interconnects. Come the evening, the system warms up for about half an hour, I pour a glass of wine and put on an LP and I am in heaven.
System edited: Switched out the PS Audio UPC-200 with a Furman Elite 15 PF-i conditioner. Noticed an audible improvement in the soundstage and further reduction in noise. The PS audio seemed slightly brighter in comparison to the Furman.
System edited: Replaced the speaker cables with Nordost Tyr. Boy what a difference. These cables showed what my system can really do. The noise level dropped significantly. The sound became the most transparent as I have ever heard in my system. It seemed as if there was no cable at all. The sound stage and dimensionally improved dramatically. Instrument sizes, character and placement became more palpable. A somewhat artificial tone to vocals which were present before vanished. Now I tend to listen to whole albums as opposed breezing through favorite tracks.