You guys helped me a bit when building this out, thought i'd show ya'll the finished project ... I finished this a few months ago, so it's well broken in now.
Technical stuff + costs:
couches about $1600
from local furniture store
1x Klipsch Reference RW-12d
2x Polk Audio New Monitor 65T
2x Polk Audio New Monitor 35B
1x Polk Audio New Monitor 15C$790
for the audio equipment
MISC cables (sub cable, tweeter cables, shrouds/covers - $50 or so
Onkyo TX-NR509 5.1$154
for all of the hardware, speakers, projector, and $3193
if you factor in the couche(s).
I love the sub, kicks real hard and deep. The audio is just great, love every minute of it. I am used to my 1BR condo where I could only have TV speakers. Another thing I love is being able to watch everything on a 8 foot wide projected screen. It is huge coming from my 60" plasma, and I thought that was huge.
Surprisingly I do not have a screen, the yellow wall actually looks great when throwing the image. The ONLY thing i'd like to do is drill a hole and route those projector cables a little better, but for now they work a-ok.
Here's some pics!