Yea, it'd be probably best for you to get a wall space for the TV, if you can. Corner placement is not the best.
However, for me, it was all I had for the short term. At some point, I will wall mount the plasma but I don't have a "stealth" place to put the components, so I don't save a ton of space. My room is bigger, 18' x 27', and I only use a 5.1. More than enough for me. I have similar speakers to yours, though I run a VTF-2. You may want to try 5.1 first and see if it's livable. Use the extra $$$ for cables, DVDs, DVD player (?), other components, etc. Bear in mind, you're gonna be searching a while for DVDs that have 6.1 and 7.1 mixes...
See here:
Cesar's Home Theatre
The plasma is currently "sick". Had 1 stuck pixel, Panasonic agreed to replace it, now I'm waiting. Lord, I hope it comes back before Friday. I want to watch the Olympics in HD...
Good ideas on the refurb and outlet. Also, check the bstock on the subs. I know SVS has a bstock list, but sometimes you have to wait for what you want. Be patient and it'll come, you'll save some $$$. I did bstock w/ Hsu and saved $150.
