But I would go with a pair of paradigm atom monitors. Great reviews everywhere, completes with speakers at twice the price. They will work for a while, but you will want to add a sub as they really (in the v6 form) only go down to 80Hz, V5's go down to 50Hz, but the v6 are just awesome. You will have to shop around to get them in your budget, msrp is 300 and a 1/2 Way decent reciever will be in the 200 dollar range.
Reciever for your needs:
or shop around for any older models left in stock, any onkyo 5.1 receiver will do what you need it to do. Other people prefer other brands, but I have always been happy with the build quality of onkyo gear.