Speakers are very subjective so what I like you may hate and vice-versa. But let's look at some options and I'll assume space is at a premium.
Option 1
Is AVRat's suggestion of the PB12-NSD system bundle. I haven't heard the bundled speakers but their subs rock.
Option 2
Three pair of Behringer B2030P studio monitor bookshelf speakers (
$131/pr). The Behringers are front ported so you can hang of them flat on the walls if you like. However they are a bit too industrial looking for some people. The plus side of these is they excel in small spaces. Don't let the low price fool you - do WmAx's suggested easy DYI mods and they rock! We're up to $400 so let's shop for a sub or two. Space is going to be tight in that room so how about an
eD A5s-300 or two - I'd start with one but they are cheaper in quantities of two.

I have a very similar setup in my home-office.
Option 3
Four
Boston Acoustics CS26 bookshelf speakers ($78ea shipped). I use two of these on
Pinpoint AM10 wall mounts as mains in my master bedroom. Add a CS225 center for about $150, and a subwoofer or two and you're set.
Option 4 - Going deluxe!
Two
EMP Impression E5Ti mini-tower speakers (
review) for $500 shipped. An
EMP Impression E5Ci center for $220, and one pair of
EMP Impression E5Bi bookshelves for $250/pr. I haven't heard these but they have a great reputation. Add an eD A5-300 and your $1500 is spent. I'd set the mains about 15-18" from the front wall and the bookshelves 3-5" from the side walls.
For a receiver I'd look at a
Refurbished Onkyo TX-SR707.