My target budget is currently preferably under $20,000 for the pre amp, amp, two front speakers, one center speaker and either one or two subs. My original budget was $10,000 but I believe it was unrealistic, retrospectively. I agree with starting with speakers and appreciate BoredSysAdmin's and jinjuky's suggestions.
I will research the speakers you recommend. I agree with the recommendation about cost control of the gear and I have read a lot of reviews on McIntosh, Krell, Classe but the $$$$ of new puts them out of reach. Used equipment: I am hoping to get some advice on which pre-amp/surround 5.1-7.1 and which amp combination would be something I should start looking for. I think high end equipment would be well maintained and may not be a bad option for me, although there is that concern about defective electronics and no warranty.
Jcl; I was looking at a used MC 205 (35% less than new) and a new MX 121 ($6,000) and have not purchased yet. The B&W speakers also used at about 30% off when they come up. Better value for the investment is sound advice and I agree.
What options do you suggest? I thought the equipment I listed would be excellent and long lasting, thats why I was considering the system I described.
I have (in master bedroom) Outlaw 990, two outlaw monoblock amps for the two rear speakers, M&K active speakers (three front) and M&K Sub (two push pull 8"). I like the system but for the living room I want to go up a few levels.
Thank you all for your responses and if you have any other suggestions, I am all ears!