First sound quality matters a great deal to me and I'd rather have 2 good sounding stereo speakers than 5 crappy sounding 5.1 speakers.
Some of the worst sounding speakers as far as music reproduction goes, I've heard have been THX speakers. They might reproduce the shear db output, controled directivity and similar sound for all fronts center and rear speakers which is important for an enveloping Dobly digital experience, but that doesn't mean they are going to sound good for music playback.
Call me old school or stuck in my ways, but I've set up quite a few 5.1 systems home systems and have been tweaking my own home system for years, starting before 5.1 came out.
Pesonally I'd buy a lower end receiver with digital inputs ~$220 and then start listening to good stereo speakers, that can be added on with matching speakers and sub. Get the fronts and then a powered sub, then the centers and surround if money is short.
Go and listen to the best speakers, perhaps beyond what you can afford, then compare that with the sound from any 5.1 speakers in a box.
There's no way I know of reproducing the standard 20khertz-80hertz standard (usual split between fronts and a true sub in a THX system) from puny 3" inch drivers in the front, without using the "sub" to fill in that vital mid/midbass range.
5.1 aside, since I prefer to watch dolby digital movies on a much larger screen and home system...I realize most people don't want to spend much money for "computer" speakers, and " little plastic speakers" tend to be the accepted norm, but with the excellent CD sound quality possible from a massive stored iTunes library, it seems like music lovers are short changing themselves, big time, by not at least listening to a variety of great sounding bookshelf size speakers. At least 5-6" midbass drivers are the minimum required without having to use a modified subwoofer to fill in the gap, IMO.
What are commonly refered to as "sub woofers" are really just the mid bass reproducing components split off from the tiny upper, mid frequency drivers.
For example, I'm using an old stereo recevier connected to the analog outputs and a couple of Definiive technology BP-2's and a Velodyne 12" self powered servo sub, for my itunes/computer speakers. Not the best bookshelf sounding speakers, I just had a leftover pair that were being used as the surrounds in my main Home Theater system.
Sounds so much better and more integrated than any of the "computer speakers I've ever heard.
Due to some clever designs, speakers have come down in price a great deal, but please try to listen to some decent bookshelf size speakers if adding a low end DD receiver seems like a viable option.
For just games and movies, on a budget then an inexpensive $200 5.1 system my be a good choice.
Once one picks a home theater in a box system there is little possiblity for upgrading, because everything is meant to work together.
It's funny when I hear the recommendation to purchase the Klipsch surround system, which might be best in class, because even Klipch full range home speakers are some of the worst sounding (musically) speakers I've heard.
If one is adding a powered subwoofer, which is highly recommended, then the receiver amplifier power is not critical, since most of the power required to reproduce music is needed for the bass frequencies. The powered sub takes care of most of the power requirements and what may seem a low power receiver handles the front (or 5 surround) speakers work fine when set to small, with the low end directed to the sub.
Anyone who loves music should do themsleves a favor, at some point in life, and go into a sound room and compare some good quality (bookshelf) speakers, just to see what the potential is for great sound. Very pricey, but the NON THX M&K are some of the best I've heard. The THX M&K sound terrible for music IMO.
Since good speakers can last many, many years, investing in some great sounding, quality bookshelf speakers can pay back everday in enjoyment, while listening to one's music collection.
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Dave