I'd put the SlS system up against HTIB's in the $800 - $1200 range (like say the Onkyo 9400THX) if we're talking sound only.
I think the SlS mains/satellites are superior to these systems for reproducing higher frequencies and Mids. The mains/sats are the strength of this system, although the mains/sats do start to rolloff a little below 90Hz. The subwoofer's up there with high priced HTIB's, not as good as a high quality component sub but decent, better than a lot of HTIB subs.
The receiver power's everything just fine and sounds great, but it doesn't have up to date features, since it's circa 2008. But unless you're buying a receiver for its video processing capabilities (if so, why? When most blu rays players do a great job of this.) You really won't miss them.