Hey Jim,
I have both interests. I have a stereo in my Den just for music, but for my living room system a friend and I took my 50" plasma that's been stand mounted for three years, and hung it over the fireplace. I have a 15 year old Marantz AV receiver (dolby pro-logic "antiquated"), but an excellent sounding receiver, and it only runs the surrounds anyway. I have Snell XA60 front speakers, "phantom center" and new Castle surrounds. No sub yet. But I really like having the TV center'd between the front speakers, and am very happy with the sound/video quality, but now I have the bug, but can't do it all at once.