2 System Upgrade Dilemna -- Help Please

[hammer10]

I have an older 51" Hitachi HD Projection set that does not have an HDMI input ( only DVI or Componet). My sound comes from a 10 year old Pioneer receiver with Klipsch Suround Speakers for 5.1. I am hooked up with optical to the receiver from my cable box and PS3. This is all in "my room". I also have a new 42" Panasonic 1080P ( replaced our old 25" Console TV ) with a new Panasonic BD30. Oviously, I want to add a receiver and speakers. The wife is not crazy for a surround system in her living room.
I am thinking I just put a receiver with left and right fronts and a center speaker and live with it. Will it be crazy to move the old receiver and speakers and get a new Onkyo 705s with new Polk RTi8s and CSi3 and set them up in "my room" even though I only have 1080I. I would finish out my Polks to a 7.1 system ( for now stay with my Klipsch sub and surrounds) and upgrade to a 50"+ when my Hitachi dies ( How long will it last? ). What would you guys do? Get rid of the wife?