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If you're really starting from scratch, take the time to read as many posts as you can on these boards. After awhile, you start to learn what to move towards and what to avoid.
Set a budget. Then start listening to the different gear that's out there at as many places as you can. You'll start to develop ideas about what sounds good to you and what does not. Trust your own ears and buy what you like.
I personally think that you'll find the biggest differences in gear when listening to speakers. There are so many different sounds and brands and price points. I think a good set of speaker is the best investment you can make in this hobby. A good set of speaker that you trully like can last many years and get you through several upgrades of receivers etc. Also, don't underestimate the importance of a good subwoofer, surrounds and a center channel.
I think that many people who buy a cheaper system initially only end up upgrading and sometimes wasting money. If you do your homework and audition the gear before you buy, you'll be happier in the long run. That's my .02. Happy hunting. It's can be almost as much fun to put together a system and tweak it as it is to listen to your content.
t.
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