I have a 5.1 system running through a Panasonic receiver I bought in 2002.
I know I need to update the receiver, especially because I want one capable of running HDMI. However, I've tried a few other receivers in the past, and I never seem to be able to get as good of sound as I do out of this one. So I've kept it.
Anyway, for those interested, it's a wired setup but four speakers are installed in the ceiling, center channel is in the entertainment center, with a subwoofer on the side. It's a small room, so the volume doesn't need to be too loud to really kick.
The only thing I hate is that I need to re-adjust the individual speaker volume depending on whether I play DVDs or Blu Rays, specifically the center channel. The center channel volume needs to go way down for Blu....