This is fundamentally a question of how a budget would get split up, or for some the next step in upgrading the signal path (most bang for your bucks).
A commercial studio would have spent a lot on the construction of the studio and room treatments. I am fortunate that I have access to facilities like these, albeit not high end but beggars can't be choosers.
I am thinking in the context of my home set up. Which will be used for mixing and some recording; vocals, some acoustic instruments and some electric guitar (including re-amping). I have a 002 rack but won't be upgrading to Protools HD. But I don't wish to use anything else other than Protools. I have Mackie HR824's on Auralex supports (best upgrade I made so far). I also have a Focusrite Trakmaster Pro, SE Electronics 2200a mic, Senneheiser HD421 II and a SE Electronics Reflexion filter.
I plan to get some stands and get my speakers in a perfect equilateral triangle with out having to move back a few feet as I currently do.
So what should get priority?
Room treatment? Microphones? Pre amps? a/d d/a converters?
Can you place them in order of priority?
Is there any consensus on this?