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My thought is: though this is my first system, I hope it will also be my last one, since I don't think I have much time for it.
Spend most of your money on a good source and good speakers. These two things have the largest impact on the sound of a system. Oh, and use tubes as much as possible.
You're considering up to the Salk HT3 price range? Gedlee Abbeys with a couple of inexpensive subs would make for a great system. A system so efficient and resolving you wouldn't need to spend huge bucks on amplification or source. The Nathans are also great at a bit less.