Equipment is a matter of personal taste. Its 2015, technology is pretty solid. Gimmicks abound, a studied shopper will do just fine. I'll cover the room.
The actually HxLxW of your room creates 'room modes' where certain frequencies played by your speakers interact with the boundaries of your room. Search for 'Room Mode Calculators'. These will help you identify the ideal size and shape of your room, so that everything else that goes in to its auditory experience will have the best foundation to start with!
If this is a dedicated media room, as close to zero Windows as you can muster. Spend the money on lighting, which also doesn't need to be outrageous. But glass is terrible for reflections and coloring the sound. I have a sound panel that has to be moved in front of my living room window. Not what I'd want in a dedicated theater!
But getting those walls sized, spaced, and built right means the more money you will save on acoustic treatments (sound panels) after the fact.
Construction tips: isolate as much of the room as you can. This rabbit hole goes as deep as you are willing. The actual load bearing structure of your room can be physically disconnected by use of rubber inserts, foams, all sorts of things. This serves to 1) keep wall studs and HVAC ducts from adding their own sound track, 2) to keep the sound in the room. Adequate sound proofing can be attained for not very much money, especially when designed correctly from construction.
- Your speaker wires should be as far from any electrical wiring as possible, if unavoidable, the speaker wire should run perpendicular, NEVER parallel to the electrical wiring. You will hear a hum if you don't.
- PVC electrical conduit (pvc pipe) installed inside the wall makes it very easy to add/remove cable runs after the fact. Most important for future proofing, or rather, making future upgrades much easier.
Thats the 'basics.' After that, do yourself a favor, and commit some hours to reading and studying the articles found under the AV Research Tab. There's a lot of science, but thats good, because it saves you from opinion, and gets you the facts you need to make the best decisions. Enjoy your masterpiece!