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Cybermike,
From your post, it sounds like your speakers are still ok. Provided that they can still be hooked up to a new system, I propose splitting your sound system up even more. Take that $250 from the Onkyo set you found and put ALL of it into just a receiver. Look for a unit that has 7 channels of amplification and inputs for them, as this will likely be a common format for HD-DVD and BluRay. No sense locking yourself out of that from the get-go. Also look for Dolby Prologic IIx, which is currently very popular for stereo and digital sources. I'm not sure you'll find HDMI switching in that price range, but if you do see it, that would be a selling point (because your sources in the next 5 years will likely have HDMI outputs).
I saw a lot of suitable things on the Circuit City website (if that is where you are comfortable shopping).
This way you'll get the best receiver you can, and you can always upgrade the speakers later (in fact, this is where you'll see the largest jump in sound reproduction quality).
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Cogito ergo spud -- I think, therefore I yam
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