I'm a vinyl fan followed by CDs I suppose. I don't own any SACD or DVD-A and from what I've seen posted here in the pastmonthes, its not worth the extra expense. Cassette would be near the bottom of the pole.
I have pretty much the gamut for playback. I even have quite a large selection of 78s. They are fun as historic documents and a curio. Not Hi-Fi, but you would be surprised how good some can sound.
I have a large collection of LPs, mostly from the pre CD era,only a few added since. The LP is a true Hi-Fi medium and I return to my LP collection often.
I have reel to reel, mainly my own masters of live recordings. Almost all 15 ips dbx 1 encoded. Now that is CD quality. I hesitate to say better, but certainly as good. I have a collection of commercial tapes, even some of Harry Belock's 7.5 ips two track real time copies. Those are awesome. I very slight amount of tape hiss but otherwise probably a little better than the best LPs, or certainly as good. The high speed four track copies have significant background noise and tape saturation issues. The Dolby B tapes get close to the best two tracks though. I have a few Barclay Crocker dbx 2 encoded tapes. Everything has to be set carefully to avoid weird dynamics and pumping. I don't find any advantage over the Dolby B.
As for cassette, I think it is debatable if that was ever really a Hi-Fi medium. It was if the recording were real time, for recording broadcast etc, but personally I don't think the prerecorded ones made the grade. The reel to reel Dolby B tape are much better.
I have to say I find the CD an excellent medium and have a large collection. It provides excellent sound quality and is very user friendly.
SACD, especially the multi channel ones are the best of all. I have some that are just astonishing in their ability to do a good job of putting you in the original acoustic space. I'm buying the Beethoven cycle by the Minnesota Orchestra on BIS SACD. The recordings were made in Orchestra Hall Minneapolis. I know that venue well, and so do others that have visited. when you play those SACDs your in Orchestra Hall alright. Its just uncanny. The slightly warm plummy acoustic is there and the orchestra laid out well beyond the ends of the room. I wold say SACD is very touchy to set up. You need to have all speakers very good. You need really good frequency response all the way around. The rears must be in the back, in other words you have to use your center backs of a Dolby set up. The players output analog and that is pass through, so at least on my rig the channels have to be balanced external to the audio visual preamp. There is no sub channel on any of my SACDs, so the system has to be configured with five full range speakers, and they need to be. I think SACD is somewhat hobbled, as you have to take great care in its set up. However if you go to all the trouble you are in for a treat.
Now the work station. I have a dedicated audio workstation which I designed and built. It has a huge hard drive. I can archive and edit recordings, make red book CDs and DVD audio discs. It also connects to the net to play steaming audio, and handles downloads of audio files. The software is WaveLab 6. The external DAC is an RME Fireface 800. The fidelity is excellent. For me this undertaking was well worth the trouble.
There a a couple of other digital formats, a DAT recorder and an early digital format the VHS based PCM 1 format.
There is a good FM tuner Quad FM 4 with a roof Yagi-Uda array.
So there you have it. This is what it takes to handle it all.
http://mdcarter.smugmug.com/gallery/2424008#127135149