My Power Console, receiver, TV, BlueRay, CD, DirectTV and center, L & R & Sub speakers will be located within an entertainment center being constructed. The other speakers are in ceiling based. I am planning on setting the viewing area 10-12 feet away from entertainment center/tv and setting up the side speakers the same distance to the sides and the rears 4 feet behind that. Is this the right way to approach this and are there other areas that I have not considering that I should be?
Hm. I think the best way, if one could, is to figure listening position before everything else. YMMV. The thing is you've already bought your stuff. I suppose none of it is returnable? Don't get me wrong, you've picked out nice stuff. But, since the display is bought, I suppose I would put that up for desired immersion, and then choose other things accordingly. The other way to look at it is from an audio-first point of view, and place your LP for best acoustics. Try 38% lengthwise for starters, doesn't matter front wall or back wall. Or try odd fractions like 1/3, 3/7, etc. The problems is the viewing immersion might not be ideal for your tastes.
You do realize that a with a 52" from 10', you will not notice any difference whatsoever between 1080 and 720p, even with 20/20 vision? Forget 12'.
If I could return certain items from your shopping list: I'd change out the DD10 for a larger ported sub, as this seems to be HT first. DD series are very nice subs, but you don't get as much output per dollar. Even the 10" version's cost can afford you a much more powerful sub. OTOH, a sealed 10" is very WAF/decor friendly.
I'd also see if I can better match all your speakers. Sure, its less important to match the sides and rears as it would be within the front stage. But, still, matching all around is still ideal. You have 3 different brands of speakers. You can't at least just match the sides and rears?
While I am talking a bit over my head, my instinct would be try to match the sides and rears in distance as with the front stage. Even if that means the sides and rears are less similar in distance, respectively. I'd ask around more about that.
Anyways, smart of you to start asking around before installation. Hopefully more persons will chime in with their own perspective.
Edit: ah, almost forgot, surround angling. With a 5.1, the sides are further back to help straddle sides + rears. With a 7.1 setup, you are given more freedom in putting the side surrounds closer to a right angle, if not exactly a right angle. Just don't put them forward of you, whatever you do. Try 90 degrees for sides.