I'm looking to upgade, or add to my home theater...mind you...it's just in my bedroom, but i feel i need necessary upgrades, although I do feel i'm set up well for anyone my age. I'm looking for anything that will do a great job for cheap, but cheap isn't necessary either, anyway...this is what i have:

32" Westinghouse LCD flat panel TV
PS3 (HDMI)
Xbox 360 with HD DVD add-on (HDMI)
3-port HDMI Junction plus extra HDMI cable

I'm ready.

Looks like you need a receiver, speakers and a sub.

What is your budget?

My budget is next to unlimited, i've got a lot saved for such an occassion.

Then I suggest you go out and listen to some speakers to see what will fit and what you like. After that you can decide how to power them.

I see you're in MN. I'm admittedly biased, but if you're in The Cities head to Stereoland in Minneapolis or Eden Prairie and listen to some Paradigm speakers. Mini-monitors sound great if you're looking for bookshelf since it's a bedroom. I had them myself, but upgraded them to floor-standing Monitor 7's with Stereoland's upgrade policy.

I'm not going to say they're the best by any means. Speakers are very subjective, so not everyone has the same opinion. You need to listen and decide with your own ears. Do some reading - there are lots of threads mentioning brands to listen to.

Can do. I unfortunatley do no have very finely tuned ears, probably due to too many Megadeth and Slayer concerts. I guess I could be a bit more specific and say maybe cheaper but of a great quality. Since I have everything connected through HDMI Should I get a receiver that also hooks up through HDMI? Is 5.1 the standard right now, or should I move up to 7.1?

What about a bigger TV?
I have a 42'' in my bedroom and it's starting to look smaller, specially after I got my projector last December. Of course I won't put a 100'' screen there (no?), but I guess a 50'' TV would be cooler.
The problem with sound in a bedroom is to find the space for all the speakers, so unless you have a really big bedroom I suggest 5.1
I'd even recommend starting with 2.0 , start with a really good pair of L and R and then see(hear) after that.

Mmk, that's not a bad idea at all, i would really like to start getting the great sound that these Hi-Def movies deserve. I also was thinking of a bigger tv, probably a 42" 1080p LCD if I can do it, the only reason I want to go bigger is because I read on Cnet, in order to get the full quality of a picture for blu-ray or HD DVD, you should have it on a screen larger than 37".

Why would you recommend a larger screen with crappy, small sound? I agree with Brian and Scott. Stereoland is a bit uppity, but Paradigm is worth the trip. Price not too bad, either.

Sounds excellent, this is the kind of info i'm looking for, i live just west of the cities outside of hennepin county, so I don't really know of anything beyond Best Buy or ...Ultimate Electronics... (which i do not go to)

Stereoland in EP is on 212 just a few lights past Eden Prairie Center if you're familiar with that area. The cross-road is Anderson Lakes Parkway. If you're looking for reasonable price and great sound in a bookshelf size, the Mini-Monitors sounds great for around $350/pr.

They also have some cheaper lines below the Monitor series if you want to spend a little less. They also offer you credit for full purchase price within a year to upgrade. So I bought the Mini's and traded up to Monitor 7's within a year. So if you're on a bit of a budget, that offers a way to get started earlier but with the ability to get better down the road.

I just looked at their website for the first time in ages, and it looks like they're closing their Uptown location and discounting product so they don't have to move it. You might be able to find some deals - not sure how picked over they may be. Not sure how up to date the site is - maybe they've already closed.

Good luck!

Awesome! I would love the ability to upgrade at a later time, that's why i'm so hesitant to buy because i'm not that knowledgable about sound quality, but i think i will check out the uptown location (provided it still exists) on my way to the Twin's game tonight, thanks a lot!

Stereoland also has NHTs. They make some of the best low-cost bookshelf speakers ever. Worth a listen.