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that is easily enough for sommat good. if i were you, i'd take that amount to joe at mojo audio and let him kit me out with some sweet vintage/older gear and spend the rest on rekkids.
i sent sarah's bro down to him a couple of weeks ago to get his classic old rotel serviced. he came back with two amazing sets of speakers for about 150 more than the service. sounds absolutely awesome.
/csb
£500-1k
Ideally it would be a gradual affair - so what I need to get going and then upgrades from there.