If that was my budget, this is what I would look at. If I decide that I want to go cheap but good speakers and I would go with 4 Infinity Primus 362 speakers at Frys.com $120/each, buy the PC350 center at HarmanAudio at ebay and get myself one of the higher end subwoofer at SVS or HSU.
Second choice, I would look into The Swan Diva 6.1 at Ozhometheater.com and add a SVS, HSU, or AV123 MWF 15 subwoofer.
Third choice I would look and if I had the patience to wait for them. The AV123 Rocket Package sale and add one of the above subwoofer.
Fourth, I would look into the Ascend Acoustic and add any of the above subwoofer.
Fifth, SVS or HSU Speaker Package.
All these are Internet Direct Speakers (except for Infinity) and only way to audition them is to buy it yourself or go to their website or Customer Service and see if you can get an audition from previous customers.
If I was looking for store brands, I would look into Paradigm, Monitor Audio, Def Tech, B&W, PSB, Polk LSi (some models will definately be out of your price range). Most important is Audition to see which speakers you like.
