I wanted to add more specifics to the changes my system has gone through. So here goes:
Speakers: Monitor Audio Bronze circa 2000 > Salk Songseries. Obviously it was time for an upgrade. Leaps, bounds, gorges of distance between the two. The MA's were great speakers... bought those in college when i worked for Bose ;) but the improvement in dynamics, tightness in bass, detail, and soundstaging is amazing.
Subwoofer: Klipsch KSW 12 circa 2000 > Epik Legend
Receiver: Onkyo Dolby Digital circa 2000 > Denon (no pre-outs) > Onkyo TX-SR707
Power Amp: Van Alstine 240/3 > NAD c270. Both are very good, just different. The NAD works better for me.
Preamp: Parasound Classic 2100
Phono Preamp: Cambridge Audio 640P > Musical Surroundings Phenomena II. Great for expirementation. Warmer and more natural sounding than the 640P. Though the 640 was a great starter.
Turntable: Technics 1700mkII > Clearaudio Concept. There was a huge improvement in soundstaging. Depth has also improved. The center image is now much more firmly locked than before.
Cartridges: AT 120E > Ortofon 2m Black > AT 150mlx > Shure m97xE (on the Technics) and Concept MC (on the Clearaudio). I really wish i still had the 2m Black to compare to the MC. Probably shouldnt have sold that one.