People here, and at almost any decent A/V site will be happy to explain why Bose is more of a rip off, then quality product for your dollar. It doesn't suck, but you can get a lot more, for a LOT less.
Anyway, a good idea may be to really look at your wiring options. You can go stereo, or better yet, look at alternative ways to hide your wires. In wall is one way, but they have baseboards, chair rail, and crown moulding all of which is designed to hold wires inside of them. That way, you not only hide the wires, but you add value to the room. A good wire tech will also be able to run wires through a lot of tough places with almost no damage. It may or may not be possible in your setup, but you may want a qualified wire person to look at your situation before deciding against it. Having a 5.1 wire run inside the walls can add some value to the home, even if it is just a condo.
First I would fully explore your wiring options before giving up on quality 5.1 (or 6.1/7.1) surround. Bose will never give you any level of quality that you are looking for.
I would also keep in mind that a decent set of 5 speakers typically costs several thousand dollars. If you are under $1,500.00 for receiver & speakers, then you really are still looking at the entry level range. Nothing wrong with that, but there are definite limitations in quality at your price point. Not such limitations ever that you should resort to Bose though.
Bose is for the Rockefellers that have money to throw away on overpriced, under quality equipment.