I'm with Pete on this.
In order of greatest effect on sound quality it's roughly this:
- Speakers
- Room acoustic / environmental noise
- CD/other sound source
- preamp
- interconnecting cables (see below!)
- speaker cable
- power amp
- Martians in outer space
- earthquakes and tsunamis in the Pacific
- small wars in Central America
- Tony Blair
- mains cable
- little weights you put on your speaker cables and/or mini pylons to lift them off the floor.
When I say CD/other sound source, I'm including the DAC and the encoding scheme (MP3 is dreadful!).
Seriously, although people will tell you otherwise, my dad, who designed audio componentry commercially for forty years, insists power amps are amongst the easiest things to design and make (as long as you do it properly!) and one of the least likely things to affect the sound noticeably (if properly made and not faulty). I have one of his designs, and it's brilliant, although it's not my main system.
Valve amps hum, get hot, distort, give you nasty belts, the pots crackle (because they get hot), and are generally a fragile PITA, to no significant advantage. But they do photograph well and give magazines endless amounts of bull***t to talk about. I don't miss them.
Interconnecting cables: generally their effect is negligible (the expensive cables amount to snake oil in any properly engineered system), with one exception: long runs of REALLY cheap cable will 'deaden' the sound through capacitance effects. For example, running a really cheap cable round the room to get from a PC to the preamp is a poor idea.
Pete's comment about headphone outputs, especially on mobile devices, is important: they are designed for really low impedance loads these days (because they run on low internal voltages), and don't work well into the 10k load of a typical preamp. Expect cracking and distortion, and possibly light bass - general naffness. Using a purpose built DAC gets round this.
Hope that helps. Mind the Martians and don't get lured into buying anything made of oxygen-free crystal-aligned anything - it'll give your wallet serious headaches and you won't hear any difference.
Cheers,
E. (ex- audio professional).