"what about components and speakers specifically chosen for the room??"
That will definitely help, but it won't provide a total cure. You have *got* to damp at least one of those reflective surfaces and preferably two that are are not facing each other. Find some suitable art, plants, screens, cushions, etc. or go whole hog and get some professional sound absorption/diffusion devices.
It would probably be well worth your money to engage the services of a pro. If you're anywhere near Virginia, Rives has earned a great reputation amongst Audiogoners...
-RW-