Sir, before you invest on anything, I highly suggest that you visit places where they audition things... sooner or later, you'll get the hang of things when they say, "7.1" or "Wharfes" or "Gale" or basta mga ganun...
My current set-up naman is:
RECEIVER : Yamaha RXV-450 (got it for 15K)
Front Speakers (pair yun) : Wharfedale Diamon 9.2 (bookshelf type, not floor standing)
Center Speaker (isang piraso yun) : Wharfedale 9 CS (w/c stands for Center Speaker, I think)
Rear Speaker (isang pair din) : Wharfedale Valdus 100 (pero binenta ko na), so nag iiipon pa ako para sa Wharfedale RS (Rear Surround ata)
Sub-woofer (a must) : Dai-ichi lang. 150Watts.
Honestly, do try to go to mega. Visit mo yung Dai-ichi showroom (ask for a demo on what speakers they have and a demo on Bass Shaker) hehehe...
visit mo ibang shops na meron din ganun... try mo Ambassador, 5th Ave (I think they sell Gale Speakers - alternative speaker, kapareho ang price ng Wharfes). Try mo dito sa Makati (The Home Theater - likod ng Makati Sports Club) - that's where I bought my stuff... good buy dun.
Basta, keep on reading and kapalan mo na lang mukha mo minsan kasi mahirap talaga pumasok sa mga Audiophile shops na naka-shorts at sandals. Hindi ka papansinin.
if you want, do PM me and send me your e-mail add... meron akong na compile na kung ano-ano sa mga home theater stuff... I can send 'em to you. good read sila. After that, ikaw na ang mas expert sa akin. Hehehe...
Lastly, 40K? Ummm...
Receiver @ 15K
Front Speaker @ 6K
Center Speaker @ 3K
Rear Speakers @ 3K
Sub (local made) @ 3K
DVD Player @ 4K
TV @ sky-is-the-limit. hehehe...
There, 34K, tama na yun! Maganda na yun. At once you've put-up your system, advice lang... hwag ka makinig sa iba para maganda pa rin ang tingin mo sa set-up mo.