Need recommendations on entertainment center - HDTV and Sound

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I'm looking to get an HDTV. I will be using it mostly to watch DVDs and play PS3. I will also have standard cable, but I almost never watch TV. It will be almost entirely for DVD's and Playstation.

Some notes and questions:

Size - I will probably get a 42"

I'm pretty sure Plasma is the way to go.

Is it worth it to go for 1080p?

I would like HDMI inputs.

What would you recommend? I'd like to spend less than $1500 if possible. I'd actually like to spend as little as possible, but $1500 would be my max.

This is what I'm currently considering: http://www.amazon.com/Panasonic-TH-42PX6...2168&sr=1-9

I'd also like recommendations on Surround Sound to go with it. I'm getting a new place in a week and would like a nice entertainment center that's reasonably affordable.