You've got a good plan and excellent choices in both speakers and the receiver in your price range. Forget 7.1, 5.1 is just fine.

For the center channel go with a Energy C-C100 or a C-C50.

For the surrounds go with two energy C-R100's, C-100's or C-50's.

Check at Amazon, Audio Advisor or others.

Good Luck.

RR6