Alright, here's my setup:
Dynex DX-LCD42HD-09 - 42" LCD, 1080P. Cost me a whopping $100

. Got most paid as a gift, but in total it only cost $825 taxes in. Could barely notice any difference in picture compared to the 37" Bravia next to it in store.
Scientific Atlanta Explorer 1840 - Or more commonly known as the basic SD digital cable box from Rogers

Nothing fancy here.
Logitech X-540 5.1 - Meh, no dedicated surround sound system here. They work pretty nice though for $50. Other two speakers are behind the TV due to space limitations.
Xbox 360 Pro - Connected through component, no HDMI available on this old one. 1080i looks amazing though. Sitting on its very handy travel case. Loves me the Rock Band as well, I need to learn how to drum for real though
My Computer - Hopefully I'm gonna go and search for an HDMI cable one of these days so that I can hook it up to my TV. 42 inches of game sounds sweet.