I've been listenig to my dad's system this week. He has a Denon cd changer, a Sony turntable and a Sony receiver, not great stuff, not the cheapest stuff. I got him some good interconnects and speaker wire to use some years ago and that made a difference. What makes his system sound so good is he has old full range single-driver Electro Voice speakers with huge alnico magnets, reconditioned about six years ago, the whole system in a beautiful cherry wood cabinet made for him in Philadelphia in 1963. I've spent a lot of years with this system when it had Dynaco tube components, then Pioneer, then Sony and Denon, and it always sounds very coherent and smooth, and I think it's the speakers, one sound source per channel, no crossover.