read up and ask questions as they come and you will have no problem setting up your system at all.
The 3808 is an awesome receiver. They were selling it for $1098 with free shipping at JR.com but you had to call them to get the price over the phone. I have no idea if it is still on sale for that price or not.
The ep500 is great sub. You could probably get by with less (maybe a 350 v3) in that room but if you can afford it I see no reason why you should not get the 500. I do not think that the ep500 will be overkill for your room (although you will probably have to leave the gain (volume) on the ep500 at the 6 or 7 oclock position.)
I have the m80's so I cant comment on the bookshelf speakers but everyone loves them.
