First time poster and new to this site.
I'm looking to spend $1,500 or so. Room size is 12x15, with an open wall leading into another room on one side.
Here is what I have thus far...
Receiver - Onkyo TX-SR707 $496 from Amazon
Speakers - Polk Audio Monitor 70 (2 or 4) $199/each from Amazon
Center Speaker - Polk Audio CS20 $229 from Amazon
Subwoofer - BIC America F12 $218 from Amazon
Good choice on the receiver. I just upgraded my bedroom system from a 606 to a 707 and love it.
I agree with the others that the Infinity P362 towers with the PC350 center might be a better choice for speakers. P152 or P162 bookshelves would be good choices for surrounds. A lot depends on what you listen to and how loud. The Infinities will do it all.
If you really want bookshelves it's hard to beat
Usher's S-520 ($400/pr) for fantastic sound quality but they're small and can't be driven frat party loud and will need a sub to handle the lows. Good for small to medium rooms but can bottom if driven too hard without a sub. The matched center is the S-525.
Or ff you don't care what they look like then 3 pair of the homely
Behringer B2030P studio monitors are amazing for the $110/pr that they cost. Good for small and medium sized rooms.
Assuming the other room is the same size then that little bic is going to be a bit challenged. It might be okay if it's right next to you but I think I'd save a bit more subwoofer. I think I'd contact Elemental Designs, Hsu Research, and SVSound and have them size you a sub to the room.