I've never heard that specific system but I'd be willing to bet a week's paycheck that you could come up with many better alternatives for the same money. I'll compare retail to retail even though Bose doesn't discount and almost every other line does, but you could buy the AVR-3801 ($1200), a series of five speakers from the PSB line with some floor-standers up front($800-ish), the matching center ($300-ish) and some small bookshelf speakers for the rear ($250). You have almost enough left to buy the Sony DVP-S9000ES ($1500), a cadillac of a DVD player with SACD capability and superb CD performance. Other speaker lines could be swapped in at the same prices, depending on taste (B&W, NHT, Infinity, Boston Accoustics).
Again, these are list prices - you could buy all of this for less than the retail prices quoted brand new, and you'll be hard-pressed to find the Bose system discounted (much) from the retail price you quote, so this is more than a fair comparison. Do some work, potentially buy used for at least part, and you can do WAY better. In any case, if you bought the system I outlined and a/b'd it with the Bose system, there's no question in my mind that you'd greatly favor the system above. -Kirk