...My budget is around $1500 for Speakers & $500 for a Receiver. I have a 1080p HD TV, Would like to install 7.1 surround system. I have all ready setup all the wiring...I want to get tower speakers for the front...
Is your TV a thin panel on the wall? What is the distance from the floor to your TV? What is the dimensions to your room?
I would get the Onkyo 605 for $400, which gives you $1,600 for speakers.
Quality over Quantity is the correct thinking. An excellent 2.0 or 3.0 speaker system is much better than a mediocre 7.1 system.
I just bought the DefTech BP10Bs for $350 each. The BP10Bs are outstanding speakers. They are smooth, accurate, and great sounding speakers that have very good lower bass, upper bass, midrange, and high frequency response (20Hz-20kHz +/-5dB). In other words, they are one of the best bang-for-your-buck speakers out there.
Think about slowly adding speakers to your system. Good things come to those who wait.
SVS, HSU, and Epik make great bang-for-your-buck KILLER subwoofers.
Take it nice and slow and do it right the first time!