If you're serious about home theatre, it's best to avoid systems like the Logitech Z5500 or the KEF system. And while it's easy to admit that BOSE speakers look nice, they lack mid-range and are overpriced for what they are.
If you want a system that looks close to what Bose has (small size, glossy finish), but actually sounds good, I would recommend the Energy Take Classic 5.1 system. Although Future Shop no longer carries the system on their website, you never know what you might find in a store. I have the Energy C50s (which are very close to the Take Classics with the same subwoofer) and they sound pretty decent. They are highly rated on AVSForums, Amazon, and about any other website dedicated to home theatre. Check out the review in Sound and Vision magazine:
http://www.soundandvisionmag.com/fea...er-system.html
In terms of a receiver, it comes down to what type of equipment you have. Do you have a lot of HDMI devices? Do you need to decode the hi-def audio codecs? In terms of brands, I would stick to Onkyo, Yamaha, and Marantz.