My old CD-player and receiver are pretty much shot and I want to
upgrade. I figure I'd like to spend about $500 to replace them, but
would consider going higher, especially if I found something
discounted.

So, here's my question - if you had $500 to spend on a cd-player and
receiver, about how much would you put into each? Would you spend some
of that on a graphic equlizer or some other component? Any specific
recommendations for each component in said price range?

How about if you had $1000 to spend?

Thanks in advance for any info you can provide.

Peter