not only that... but it also depends on the source of your music, like i posted in another thread. If your ripping music at 128kbs and listening to it on an expensive system... you wasted your money.
Funny story: I had a friend come over who spent thousands on his home theatre, and complemented my setup, which cost less than $1500. He said "wow your setup is quite nice and sounds awesome... what do you have and how much did you pay?" I told him and he couldnt believe it. I showed him where the sound was coming from (iPod) and explained how compressed mp3s are. I further explained why its a waste to buy all that expensive preamps, amps, EQs, receivers and speakers if your source of music cant even reproduce the frequencies your hi-end setup can handle. End of story: He admitted to wasting his money lol.