jaxwired:
sks, great question. The answer is yes, but...
Amplifiers generally show big improvements in quality as you move from £200 to £1000. After that, improvements are generally minimal, if any at all. Same rule for CDPs.
So, if you can swing say £500 to £800 on the amp and the same for CDP, you will get a very big bang for your buck.
Then spend all you can on speakers. Speakers do not follow the same rule as amp and CDP. Because speakers vary much more widely in construction and size. Up to £5000 on floorstanding speakers will usually give good value. Although very good choices exist in the £1000 to £2000 range. Beyond £5000 (for floorstanders), improvements are less obvious and you are paying big money for small improvements.
So to answer your question, I would not pair a £200 amp with £3000 speakers. But I would happily pair a £800 amp with £3000 speakers.
And as always, the most important factor is synergy. If the Amp, CDP, and speakers compliment each others strengths and weaknesses, the sum will be better than the parts.
I am 100% with jaxwired on this one. Amps make a big difference but once you get adequate and high quality amplification, it's the speakers that make the most difference.