I’ve been thinking on a way to articulate this and I’ve been struggling so forgive whatever comes out now, I can elaborate more if it evolves into further discussion.
My experience is my own and not something I’ve discussed before, but this crowd is as good as any. I haven’t fundamentally changed my 2-CH system for some time now, easily over eight months without introducing an upgraded component and I’ve been feeling generally satisfied which interestingly enough also came with a drop in the amount of hours I’d been listening to music. The dip lasted pretty much through the winter which made me question as to whether or not it had all been a relentless chase and now that I was happy the impetus was not as great?
Clearly that wasn’t the case because over the spring I’ve been listening to music more and more, but I’ve also been tweaking my TV system and finalizing my headphone system. But as I started listening to my 2-CH again, I noticed so many more things about it, it was as if I was hearing the system for what it was instead of what I’d made it out to be during the chase. In other words, when I heard a flaw or something that could be better it didn’t feel like a failure. Which may be a weird thing to say but perhaps it resonates with some of you. I’m not stating this as a negative, on the contrary. I felt that I understood my system better than I’d ever understood it before. It gave me the motivation to re think my speaker and subwoofer placement which led to further improvement or at least showcased it as an ensemble, especially the integration between the sub and main speakers.
Anyway, that’s a bit of a background as to how I got to the topic. That being that the diminishing returns in high end gear is a bit of a misnomer or perhaps something that doesn’t exist in the way we’re led to believe.
I’m sure I’m not the first, as a matter of fact, I recall M0N speaking about it previously, but it’s all been theoretical as I’d never really felt that I hadn’t made progress in furthering the development of my chain; Until about 8 months ago when I simply stopped hearing things I didn’t like and figured that’s the natural stopping point.
That said over the last month or so after tweaking my speaker placement, moving some of my noise reduction power cables around and changing the power supply and DC cables to my digital front end, I’ve once again hit on a pretty massive leap in performance, to be honest, something that I wasn’t even ready for or expecting. Because as I said, eight or so months ago, I was perfectly content.
Perhaps taking the time to work on my TV system and focus on finishing my HP system allowed me to hear my 2-CH in a less critical but more honest way. More aware of what I was hearing again as it was fresh. The difference being is that I was able to really understand what I was hearing in a more profound way than previously. Less emotion, less frustration, less expectation perhaps and simply focus on what I was hearing.
Anyway, less than couple thousand dollars later after the tweaking, I’m hearing so much deeper into the details of recordings, the sound feels tangible in a way I’ve never experienced before and I’ve been having sessions when I hear things that I could only ever previously perceive while under the influence. 
Which leads me to this diminishing returns concept and why after years of building a system, orchestrating and curating every aspect to the smallest of details, I can still introduce changes that are this dramatic?
So perhaps it’s not the changes alone, perhaps I’m just better at listening than used to be?
Perhaps having addressed so many minor details over the years has left me with a system that multiplies the effect of changes that wouldn’t have had the same impact in an incomplete chain?
Maybe spending time listening deeply to my other systems, allowed me to hear this one without that sense of judgement?
I’m sort of grasping at ways to explain the experience, but that’s that. Clearly the diminishing returns rule isn’t applying here. In any case, this isn’t an example of throwing $30K into a clearly better component, which I was fully ready to accept as the only way to further improve it. This was simply tweaking around the edges and it making such an impact to get me this introspective about the process and the hobby.
Who knows, I’m planning on spending this rainy weekend delving into albums I haven’t heard in a long while or listening to tracks that don’t get as much love. Happy listening.