So, I sold the electronics and speakers on eBay and searched for replacements. I ended up going with nice mid-priced equipment throughout. At the beginning I was considering low-high-end separates such as Sunfire, Rotel, and NAD. However, due to budgetary constraints, and my personal devotion to getting the best value possible when buying toys, I went with high-low-end (mid-end?) consumer equipment. In the end I purchased Denon for the electronics and PSB loudspeakers for the five main channels. These were excellent choices that I don't regret one tiny bit.
Those interested in the details of the equipment I used should see My Home Theater Equipment.
About the only thing I actually changed about the room itself was the paint. The room had bright white walls, which wouldn't have worked so well for a home theater, so I painted them a warmish grey, and repainted the baseboards and trim to freshen the whole room up. I went to a lot of trouble to hide the surround wiring, as well, which was a major operation documented on my home theater installation page.
Listening room, before HT conversion. I was too stupid to take a long shot of the whole room.
Home theater room, after conversion.
Watching a movie. Sweet!
SVS subwoofer employed as "bass shaker".
This sub replaced the Velodyne you may see in other pics.
Long shot from back of room, screen up.
From front of room towards back, showing side and rear surrounds.
After a few weeks having the projector on the coffee table, I finally got around to ceiling mounting the projector.
Performing adjustments. Note Wiremold cable raceway.
Projector mounted to ceiling.
Projector mounted to ceiling.
From front of room towards back, showing side and rear surrounds.
Enjoying the fruits of my labor!