I have a Technics stereo receiver, it's pretty old but still sounds great, puts out about 60 watts per channel. I have this powering my main speakers, which are Audiosphere Research floor models.
I have a custom built set of rear speakers, they were originaly labtec mm speakers, but now they have Boston Acoustics CX3 3 1/2" 2 way coaxial car speakers in them, and they sound great.
My Center channel is an older Fisher bookshelf system, sounds pretty good, brings out voices great.
My Subwoofer is a Velodyne CHT-12 12" sub, Velodyne really are the king of home theater subwoofers.
My soundcard is a GameTheater XP, I find it really good, I love the breakout box and composite connections.
I'm gonna do some serious upgrading this summer, I think the only thing that'll be the same is the subwoofer. It's the only thing thats new

. My plans so far are to get a Denon receiver, maybe the AVR-1803, and Paradigm mains, rears, and center channel. I love Paradigm soooo much! I guess I'll have to see how my money situation works out first.