Although the law of diminishing returns especially applies to audio equipment, some recommendations can be gleaned from The Absolute Sound, or Stereophile or other high-end publications (see
http://www.goodwinshighend.com/).
You basically get what you pay for. An R80k blu-ray player will be better than the unit you get at Hi-Fi Corporation for R 200, but not amazingly so. A good compromise is an Oppo BDP-930 which is about R12k.
The most important components in any audio or home theatre system are the source and the speakers. A 55" Panasonic Plasma will probably give you a stunning picture, but is still over R 65k. Then you should not compromise on speakers. Some well-rounded full range B&W units, but with the addition of 2 REL subwoofers for classical music will round off the experience. A good centre channel is a must, but don't blow too much on rear/side speakers as less than 15% information comes out here.
Also, most important, don't forget treatment of the mains plugs and wiring. As well as having a good electrical connection - either US Style flat pin and earth, or UK square plugs, not the South African variety with poor overall contact points between plug and socket, you must have a properly rated mains conditioner capable of 20 amps. Take a direct 4mm live and neutral cable from the audio equipment plug directly to its own dedicated circuit breaker on your DB board. You don't want to be sharing power with a fridge or kettle.
So, my recommendation is - don't buy cheap. There are no bargains in new audio and home theatre. For bargains, look at avsa.co.za and see the classifieds section. If you are quick you can pick up something worthwhile for a song.