I've only recently begun searching through the world of high end audio and I love what I've heard so far (checked out the selection at Magnolia) and definitely would like to invest in a system. However, I'm not quite sure where to start, or for that matter, how many/what components are needed.

So, the essential question has two parts;

What are all of the components needed for a great home audio system (forget video, only interested in the audio)?

Is there an optimal sequence in selecting components? what?

Are there any references for this kind of info?

Thanks very much to anyone who would care to respond, I realize this may be a pretty lengthy topic.