I'd also say Mics before Preamps - but a nice preamp can do wonders on a Dynamic mic like a SM7 or 421! But a nice preamp won't make a harsh MXL Chinese condenser sound like a Telefunken or old-school Neumann mic. Tasty analog compressors also go a LONG LONG way to getting a sound.
I'd also heavily consider looking at your rooms' sound - this is practically as important as everything else in your chain combined!!! This is true with regard to the recorded sounds themselves, and the context in which you mix these recorded sounds. Bad room = Bad Recording and a bad mix of the bad recording. Double whammy.
Gear is fun - no doubt - and cheap gear will get you instant gratification. There is a LOT more to good audio than instant gratification. I'm more of a fan of saving for better/high-end gear, or making the most of what you already have and spend the cash elsewhere (go on vacation or something). The "Pro-Sumer" segment is largely pointless IMNSHO. If you are serious - the pro-sumer gear will only be a stepping stone and a loss of money when you go to re-sell it for the "Real McCoy".
It is incredibly hard to resist the "knobs-per-dollar" temptations of cheaper gear. I know from experience, and bought and sold way too much pro-sumer gear to list. Now, I'm investing in "pro" gear (or DIY'ing my own), and I've kept all of the gear I've purchased in the last 5 or so years as it meets my expectations - and my recordings are sounding better (along with TONS of room treatments and, of course, practicing mixing over the years helps, too).
Food for thought...
MADIface-XT+ARC / 3x HDSP MADI / ADI648
2x SSL Alphalink MADI AX
2x Multiface / 2x Digiface /2x ADI8