This is a fantastic system for the price.
Easy to assemble and setup, the cables are really long so no problem getting the rear speakers to the other side of the room.
The sound is excellent, and you can auto configure the system in literally a couple of mins using the self-calibration microphone that's included.
It has 1 optical input, so i would suggest purchasing an optical splitter if you plan to have more than 1 device connected. I've got a 3-way splitter and have xbox360, PC and Sky all outputting in 5.1! Beware though, if you're planning to connect your 360 via HDMI, you'll have to purchase the official cable rather than a standard cable as the microsoft one comes with the optical out.
Another advantage of this system, is the small size of the speakers. This was a factor for me as i didn't have enough space for the slim floor standing type. DVDs look and sound great with upscaling.