Low-end Question

Setting up a little HT in my daughter's room. Have a small LCD TV with stereo speakers built-in, and an all-in-one HT/DVD to use for source.

Here's the rub - I don't have enough room to do the full 5.1 speaker thing, so I'd like to use the TV's built-in speakers. A few issues/questions:

1. Will stereo w/o sub or center still provide a reasonably ok experience? Don't need anything fancy, but also don't want sounds from the movies to be "missing".

2. the HT receiver has built-in speaker outputs (the cheapy spring-clip type, for L/C/R,Sub,RL,RR), but no L/R channel (RCA-type) audio outputs I can connect to the audio inputs on the TV. Is there any way to connect these two beasts?

Thanks!