here are my ideas and paths i took regarding home theater. (hope i don't sound too opinionated

)
1. the speakers are the most important part of any decent audio system. most half decent recievers will sound fairly alike, .. .but the speakers will make or break the system. don't bother with logitech or bose or MOST (not all) home theater in a box etc, .. if you want something you will be happy with in the long term,
2. 5.1 is plenty.
3. If you live in a small apartment, .. skip this point.
ELSE
if you can build a lumenlab projector, .. you can probably build a HIGH quality subwoofer eg. a dayton 12 " DVC at around $100 coupled with whatever sub amp you can get for $100 (probably 200 to 300 watts) plus a sheet of MDF for $20 will get you an amazing value. Of course, there are other choices out there too. I'd personally suggest a horn loaded sub, but many will not have the patience / skill / space to implement it. My point is, if there's one aspect of your HT that you can improve by DIY'ing (at substantial savings over retail item), it's the sub, .. it will make a big difference, and less critical than other speaker designs. i still laugh whenever i see the "toy" subs retailers try to sell for $500 to $100 or more, . knowing that they probably have a $40 driver in there.
4. Look for home theater speakers that have a -3db response of at 70 to 80 Hz or below (at least in the front, center and left channels). this will allow you to cross the sub at 80Hz or below, . at which point bass is relatively non - directional, ... giving you more placement (or hiding) options for the sub. I personally went with an HSU ventriloquist satellite speaker system when it was on sale at comp usa some years ago, .. because i figured that at (a little above $100 for 6 speakers), it wasn't worth my while trying to build something better. they have an interesting approach to maintaining frequency response. In my case, i run an adire shiva driver (bought it at $130 before the price rocketted) in a big ported enclosure tuned to 17Hz
http://www.hometheatersound.com/equipment/...t_vt12_stf1.htmBTW, .. those athenas sound good too, .. i head them at a friend's place
5. you don't have to spend big $$ on a reciever, if your speakers are halfway efficient and/or your room is small (as in my case). .... some thing like this might work (i have an older model , .. sa-xr10, and couldn't be more pleased for the $140 i payed for it.)
http://www.amazon.com/gp/product/B0001JXAY...8&s=electronics6. many will not agree with me, .. but it's just an opinion, .. i haven't yet heard one onkyo or sony reciever (at ANY price range) that i like, .. the onkyos all sound non-offensive but muffled, .. and the sony's overly bright sounding / artificial. My point is, everyone hears different, .. you decide what works for you.
7. don't get taken in by expensive speaker cable , .. 14 ga home depot wire is plenty.
hope that helped,