Hi jtripper
I'd consider checking your local papers for used equipment. If you prefer new, I think one of the best buys around is the Panasonic line of receivers. You could probably find a used SADX 930-1050 (excellent sound, but run a bit warm, so leave some room for circulating air to cool the receiver) and a sub for about $250. If you can find a Merak MC6H (between $30-60) you'll have a terrific Axiom made center channel speaker. Check out audio asylum reviews and discussions, the audiokarma discussion site, and educate yourself about what folks like and don't like.
If you go used, you can probably get a decent receiver, center, sub and even a couple of extra speakers for your side surrounds for about $500.
One thing for sure, you'll love your Axioms!
G'luck.
