How good is good enough? Most of the cameras we use today, including the iPhone, is better than the equipment the great masters had in their day.
Creating a great image is not about having better equipment, it takes something more. I love this quote by Edward Weston:
“The fact is that relatively few photographers ever master their medium. Instead they allow the medium to master them and go on an endless squirrel cage chase from new lens to new paper to new developer to new gadget, never staying with one piece of equipment long enough to learn its full capacities, becoming lost in a maze of technical information that is of little or no use since they don’t know what to do with it.”
Because they don't know what to do with it...
It's not that I'm against better equipment, but I am against chasing better equipment with the false hope that it will improve my work. Only improving my Vision and creativity can do that.
How important is your equipment?
Not nearly as important as you think!