Even if you use your existing receiver, that's a fairly lean budget to work with. Consider starting with fewer speakers then adding more later. After all, 2 great speakers will sound better than 5 OK speakers, right? The Pioneers have an overall positive reputation for price / performance, but I think you can do better.
3x
Affordable Accuracy monitors would leave about $250 for a sub. Of course that's assuming Dennis will agree to break up a pair to sell you the third to use as a center channel. If not, or if you need front-ported so you can wall mount your LCR, three of the
Wave Crest HVL-1 bookshelfs would be a respectable alternative. With either, your budget would handle a
Dayton 15" sub. Boom. Authoritative bass, the clearest sound possible within your budget, shipped for around $550. Later, when budget allows, grab a pair of Fluance AVBP2 or XLBP bipolar surrounds.
Consider this: when Andrew Jones left Pioneer, he arrived at ELAC where he was able to design the entry-level speaker he had wanted to design while at Pioneer. In a sense, the ELAC B5 and B6 are successors to the Pioneer SP-BS22. With that in mind,
read Kurt's impressions of the ELAC B5 vs. the Affordable Accuracy.
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