Beginning audio system help

[OokieSpookie]

I am moving up to a Bravia XBR4 46 or 52 in a few weeks and am looking at sound systems to go with it.
I will be pretty broke after the tv for one thing lol, also it is a pretty small apartment so I do not need alot of power or anything special.
I was reading about this one:
Link

And according to a cnet review it does not pass audio via HDMi.
Is this a deal breaker?
I am looking for an inexpensive 7.1 or 5.1 system for an apartment so I am more interested in clean and dynamic sound over heavy bass and raw power.
1080p HDMi 1.3 pass through I suppose is the only really important factor, I do not need a built in dvd player obviously ( though it wouldn't hurt for cds or whatever but it is easy enough to pick up a dirt cheap cd changer )
I have the PS3 as my main, 360 Elite also (w hd add on), have the wii too but it is a non issue as far as this goes.
Would rather get an all in one set much like the Onkyo just for ease of set up and then I can always swap speakers out here and there but not a must.
Price ceiling is 500 though 400 is more comfortable considering again it is an apartment.