You could look at the Naim UnitiQute. Last years mode is now £999. And get a pair of Kef R100 which I believe you can pick up for as little as £399 if you shop around. That should give you great sound quality even with MP3s and will be future proof for when you do upgrade to lossless and eventually high-res 24/96 audio.
i have the Qute attached to some old Kef q10s and it sounds brilliant even when streaming Internet radio at 320k.
It's also easy to connect your iPad or iPhone or USB stick. One down side is that it doesn't have a CD player. But you can always attach a DVD player or PS3 to it via co-oxial or optical.
Just add an apple airport express (digital output feeding the Qute) for streaming wirelessly directly from your iphone to the Qute and you have everything you asked for and more.
Only issue I can see is that you said its a large space, and the Qute isnt that powerful. Definitely worth a demo tho
i agree with gregvet, the UnitiQute might not be powerful enough for a very large room. My setup is in a 4x6meter space and the Qute had enough power. But I still ended up adding a pair of used Musical Fidelity power mono blocks to give the sound a bit more sound stage and authority. You can always add a power amp or mono blocks at a later stage.
Naim UnitiQute, QED Genesis Silver spiral cables, KEF R100.
Audiolab 8200CD, QED reference silver spiral interconnects, ProJect head box Amp, Grado SR225
Thanks for all the suggestions, I'm currently going to Richer Sounds to have a listen to some speakers and will report back with what I think.
Just for reference, I've taken a photo of the living room the system will live in: http://imgur.com/JDRwD (its being redone at the mo).
The new RA12 amp from Rotel does most of what you want, but you'll need to add an airport express if you want wireless...there aren't many reviews of the amp, but its baby brother gets 5 stars from WHF.
Rotel RA12 = £599 (with built in DAC and ipod connection)
Kef R100 = £600
Airport Express = £65
Total = £1264
The LS50s might be a bit too much for the amp
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