one problem with expensive gear is the law of diminishing returns kicks in very quickly. is a $10,000 Neumann mic really 100 times better than a $100 Shure? Nope. Probably not even twice as good. So you can easily end up spending a ton for very minor improvements in your gear.
Absolutely true John. This is why us old timers here pretty much all use the 90/50 rule. Find something that gives you 90% performance of whatever you wish you could afford but can't and it costs 50% of that item. You have to do a lot of reading and haunt forums like this one to find the gear that meets that formula but once you do you're golden. Nobody but a few very snobby high end pro's will ever miss that 10% and you paid half what they did.
Now to take it one step further and again I know I speak for several others here, I buy virtually everything used like my Altec's and I basically stumbled on those by accident. I bought a pair of nice old Dynaco A25's off Ebay for my sister and the seller was way out east of LA and a guy in my office lives out there so I gave him the money and he picked them up for me. He's not a musician, not an audiophile, know's nothing about this stuff. But, when I transferred them from his car to mine he asked me "didn't you tell me one time that Altec is a very good name?" I said yeah and he told me that the guy has a living room full of speakers and that includes a very nice looking pair of Altec's. I called the guy up, he wanted $425 for them, he emailed me some pics, he had them hooked up so I borrowed a friends van and ran right out there and grabbed them. Good grief $425 for a nice pair of Model 14's?? I've seen beat up ones with the veneer falling off go for a grand on Ebay and nice ones much more than that.
That's how I buy my stuff but that's not for everybody. If you don't know what you're looking at and have a good idea of values you'll likely just throw your money away. You can still get good deals using the 90/50 rule as long as you don't have to have something now as in RIGHT NOW. Have some patience, look for close outs and sales and you'll do all right.
Bob