Keeping it as simple as possible, I suppose I’d just use a digital source...but then I do find vinyl is a significant part of my enjoyment with hi-fi.
I used a Croft Phono Integrated plugged into Harbeths for a while last year (£600 pre-owned) and it did make me question the need for anything else. Same could be said of my NAD C316BEE which partnered my Harbeth P3ESR for a few months some years ago.
More recently, my discovery of old Quad solid-state gear has been quite a surprise. I love the sound, the design, the vintage feel - and the low prices and hence stress-free ownership experience. Could happily live with the 33/303 for years to come - assuming the preamp lasts, no such concerns with the 303 though.
Always been a fan of small speakers too, like Harbeth, Spendor, ProAc and my current Falcons, which give excellent value if you can live with the compromises.
So for a digital-only system the electronics I’d choose:
Quad 99 CDP-2 with a Chromecast (£350)
Quad 303 (serviced by Amplabs, £350)
Google Chromecast (£30, plus Tidal/Qobuz account)
(If I did choose to have a turntable in this system (so a preamp required too) I’d choose a Quad 33 or 34 for the pre and a second-hand Technics 1200 with a decent Audio Technica cart).
For speakers, depending on how tight the budget is I’d choose one of:
Falcon LS3/5a (or other LS3/5a versions)
Harbeth P3ESR (original version)
Spendor S3/5R (real bargain!)
Swisstone LS3 (not heard yet but surely good value)
KEF LS50 (again not yet, but worth checking out at this price)
Some variation on the above is pretty much what I use today. The only differences are the extravagances of the Roon Nucleus and Technics SL-1200G deck, which I’m sure I could survive without if I had to. In fact, I’d like to get a cheaper turntable round here one day to see how low I can take things.