60" Plasma Speaker Set Up Questions???

Planning on putting up a 60" plasma display in my basement. The basic veiwing area is approximately 15 x 17 but the area opens to the rest of the basement. Looking for options/opinions for wall mount or in wall speakers. Initiall I'm looking for Front L/R/C options. I want a nice clean compact look but do not want to sacrifice sound quality. Budget is approximatlely 700.00 for the front speakers. Future plans will be for surrounds and an IB sub. Anybody have opinions on sound quality of an In wall vs. On wall speaker. Any input would be appreciated....trying to my system up and running for a Super Bowl Party...