I'd recommend one of the BenQ DLP short throw projectors. I'm using a standard BenQ DLP in a room just a little larger than yours and it is awesome. Can't beat it for the price - especially for sports. I'm not a gamer, so keep that in mind.
My screen is 106" 16x9. To keep cost down I'm using small but decent quality bookshelf speakers in a 5.1 configuration. Using a budget receiver ($400 list - bought open box for $175 no mic no remote) but it has plenty of power for the small space. Splurged on an Oppo Blu-Ray, but got it for $250 using Reward Points. Other sources are AppleTV and DirecTV DVR.
I have a single row of 5 theater seats I got on ebay for $50 each. Cleaned them up and got creative coming up with mounting feet that work great.
Love my small, budget home theater!
Last edited by IndyLions; 09-17-2014 at 07:13 PM.