The more I learn about guitars, amps and cabs, the more I’m convinced that the majority of tone (aside from how the instrument is played, of course) comes down to pickups and speakers. (!)
Don’t get me wrong, I love Marshalls, and Fender guitars, LPs, Ibanez and so on. Even so, if I had to spend a whole lot less, I know now exactly where I could get away with cutting costs, to minimise “loss of tone” overall.