A Sound Question

In our next house, I want to actually live in the living room. Our bedroom in this house is larger than some apartments I've had, and I'm actually tired of spending day and night in here. There's room for all of our bedroom furniture, it has an office area and even a sitting area that's as big as the entire living room I had in Denver. Anyway, when we move, I want to live in the living room, and that means a TV and music system. Right now, I use my computer, which is unsatisfying to my musician ears. I'm so out of the loop about modern music systems that I thought I'd ask for your advice...

Left to my own devices, I'd build a component system like I had in the 70s and 80s, but my instincts tell me that these are terribly outdated now. I loved my stereo system back then, especially my state-of-the-art linear-tracking turntable with strobe rpm adjustment. I loved my receiver, reel-to-reel, cassette deck, and graphic equalizer. They're all gone now, of course, long since blown away, although I still have my four 42x15 walnut-cased speakers with three-way cones.

What are people doing today? What do you have for a music system? Is the sound as "big" as the old systems?

UPDATE 5/6/09 @ 12:51 pm:
Thanks to Badger's recommendation, I looked through the Bose sound systems and have decided that I must have the Bose Lifestyle 18 System. It'll have to wait, however, until we move and have paid off our couple of debts, which means that I should be able to get it in, say, 2033, just in time to play the music I want played at my funeral.