I was outside my apartment today and made an observation.
I heard a stereo playing (mild thumping) and when the husband/boyfriend/whaetver came back with the beer/munchies/condoms/whatever he went to get, he opened the door and I got to hear more of what was coming from that apartment.
I was standing a good distance from the apartment and not positioned anywhere close relative to the door.
The observation was that it was obvious that this person had a receiver.
I thought to myself, isn't it funny that wherever you go, you can always tell. If a club has a live band (even amplified), you always know they're live. If someone has a mini system or a boombox, you instantly know which it is they have even if you're just walking by their apartment.
This to me makes a real statement about the quality of a system (and the wattage, I suppose). If it sounds good from a distance and from another room, you know something good is happening in whatever they have.
My point of all this is that the distance between these levels of components is still, even today, fairly obvious to me.
I agree that the Linn Classik is a nice exception and I'm sure some of the others Macdef listed are too, but by and large I'm happy I have a Sony ES receiver instead of a "HT-in-a-box" or a mini-system, and I'd be even happier if I had a Classe pre/pro and some killer monoblocks. I think these levels are still valid today and it's not just a prejudice.