Going to the movies was costing us upwards of 50-75 bucks a shot so I was able to talk the wife into finally building a home theater.
Unfortunately my budget was not real big so a lot of research was done on what I could do.
Here is the final result...
Screen: Elite 110" (a little work to put together, but quality is much better than when we where shooting on the wall).
Projector: Optoma HD20 (1080p 24hz/60hz, good picture quality for the price).
Speakers: Spec grade but they sound pretty good for the room size. I already had the powered sub-woofer and the surround speakers were installed in the ceiling already. I'm using an old stereo too so I'm not processing any of the newer formats like Dolby TrueHD.
Added some room darkening curtains from Wal-mart which allows us to use it during the day. Got the red bean bag chairs and rugs there also to add a little more color.
I'm feeding a dish receiver, blueray player, xbox and media center pc into the projector. I picked up the wires from amazon and monoprice 25' each and also ran electrical to a surge protected outlet (we get spikes in the country).
I'd like to add a better receiver and theater seating but I'll have to make due with using existing stuff for now.
We watch most of our favorite TV shows on it now, plus renting movies from Redbox or checking out from theLibrary. Even upscaled DVD's look good. All in all we're definitely getting our monies worth out of it.