Welcome and congratulations, raoshree! For the receiver, look for one with the features you want as the M60s are an easy speaker to drive. Are you interested in Blu-ray? Maybe looking for a receiver with HDMI inputs will be good.
Banana plugs are fine, they are especially handy if you plan on switching things around and plugging and unplugging often. I mostly use bananas just because they are easy. You won't notice a difference in any kind of connection you make, whether it be banana, spade, or bare wire. The main thing is you WON'T be able to use bananas on the QS8s if you use the supplied bracket. They are too close to the wall and you will have to use bare or spades.
