Do you want to do only 5.1 or 7.1? The suboofer really shouldn't be jammed into the corner, there are several discussions here about sub placement that will help you determine where to place it.
The general rule also is that your front two speakers should form an equilateral triangle in comparison to the central listening spot. So, move them out a little bit.
Speakers don't have to sit along a perfect circle as A/V receivers have timing delays built in that compensate for speaker distance from the prime listening area.
Just my $.02