My wife and I had a full 5.1 home theatre setup in a den in our basement (Atlantic Tech speakers, Yamaha receiver, nice Tosh RPTV) and then I decided to go to med school. We turned the room into office/study space and turned our living room into a mini home theatre with a Sony 46" XBR LCD panel, Denon 3808, Infinity PS-12 and a Polk Surroundbar (I listed everything so you can get feel for my next statement).
We're selling the Polk and I just picked up some a pair of Mirage Omnisat V2 floor speakers. I like them WORLDS better than the Polk. If you MUST have an all in one solution it's okay. We simply didn't want to run cable and thought we'd be satisfied. I'm happier with my current 2.1 setup than I was with the Polk doing "5.1". I will say that it does trick you into thinking you hear sound to about 180 degrees, but it just doesn't have the wide soundfield,depth or separation that we really wanted.
I know some people who really like theirs though. I suppose you have to try it and see since every environment is different and all ears hear something slightly different (in a manner of speaking).
That said, wanna buy a Polk Surroundbar for $300? PM me. ;-)