In that case, your best bet is to go with an entry level HT receiver. Accessories4less has factory refurbished/factory warrantied Denon AVR-E300 for $169
http://www.accessories4less.com/make-a-store/item/denavre300/denon-avr-e300-5.1-3d-networking-receiver-airplay/1.html
Then I would recommend a Dayton SUB 1200: http://www.parts-express.com/dayton-audio-sub-1200-12-120-watt-powered-subwoofer--300-629
Put the rest into speakers.
HSU Research,
Ascend Acoustics, and
EMP Tek all make good bookshelf speakers that would fit your budget.