Major newbie needs buying advice!

I have never had a decent stereo sytem, and darn it I deserve one! I can really only spend about $500-700 dollars though. I have the opportunity to buy a used Onkyo TX-8511 receiver $65. It works fine, is this a decent receiver? Or should I just buy a new one? I thought I could spend about $500 on cd player and speakers. Should I get better speakers or cd player? am I just being cheap to only spend that much or can I build a decent system within that budget?

CD Release Party! Tonight!

CD Release Party! Tonight!

Looking for <a href="http://www.stereophile.com/news/attention_screen_cd_release_party/">a good time tonight</a>? Meet us after work at <a href="http://www.ottosshrunkenhead.com/">Otto's Shrunken Head</a> to celebrate the release of <a href="http://stereophile.com/musicrecordings/ilive_at_ottosi_a_new_stereophil… Screen's new CD</a>.

This the best tube amp performance McIntosh MC75

The 75th anniversary C22/MC75 have just been recently reviewed over here in the UK by hi-fi news.

What stood out to me was some of the best tube amp performance I have ever seen, which potentially removes the concept that listeners love tubes for the distortion.
Now I am not a tube fan myself due to it for some quirky reason reminding me of the old black and white Frankenstein films, but I can appreciate this McIntosh.

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