So the last time I posted I was still in my parent's house with a projector and some mismatched speakers. I've been through a lot of equipment since then and here is the latest:
Westinghouse TX-42F430S LCD 1080p
Onkyo HT-SR800 7.1-Channel Receiver/ Speaker Package
LG DN191H
SA Explorer 8300HDC (TWC)
Nintendo N64
Dell Vostro 1400 for HD Playback
After messing around a lot with seating we finally decided to just put the rear two chairs up on a platform with a little remote/drink shelf. I'm pretty happy with everything so far. I've been looking into getting an HD DVD player, but I need one that does 1080p and has a 7.1 Analog out (and I'm still a poor college student).
Pictures are from my phone so sorry for the quality: