Audiophiles...what matters more: quality of the speakers, or the receiver ?

ilikepizza1

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I realize that both of these would have to be good...but:

if I have some old but high quality speakers, that were made before we had HD, would they still be useful if I bought an expensive Receiver ? They are really nice speakers, but would they actually benefit from high quality receivers...would blu-ray sound even sound different to standard if they are old speakers ?

thank you very much
 
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