Home Theatre Setup Guide: Projector or TV, Speakers and Room Planning
A projector and a motorised screen suit a dedicated room where you can control the light. A television is often simpler in a living room that is used all day.
Sound is what makes the room feel like a cinema. In-ceiling speakers keep the look clean, while a receiver and a subwoofer give you the bass and the surround channels.
The best setups also close the curtains and dim the lights from one scene. That is why Electrical Quorum plans the AV, lighting and curtains together.