I currently have a 42" LCD JVC 1080p and a Blu-ray player. I will probably still use this for watching television, but I have been thinking about getting a 1080p projector, ceiling mounting it above my couch and putting a drop down screen in front of my current tv and using the projector for Blu-ray viewing.

I am considering buying or making a ceiling mount that can hold the projector and the Blu-ray player and then I have to find like a 25' optical cable that I will run through my ceiling to the receiver which is on the other side of the room.

Any thoughts on this set up? The only problem I foresee is where to put my center channel. It is currently above my tv so it would be behind the projector screen when I pull it down. I suppose I could mount it under the screen, but that's not a preference of mine.