Bought this system last month to pair with a new Sony LCD and S550 blu-ray. Sound is crystal clear which is amazing when you consider the 'golf ball' sized speakers. I've watched numerous blu-ray movies with DTS master audio and I'm happy with the performance. You should note that the amp itself can't decode DTS master audio so make sure your blu-ray player does that if it's a requirement (hence the reason I bought the S550).
The amp/sub unit is big and heavy (about the size of a mini-tower PC). I also don't like that they've put the amp display on the top of the unit meaning that if you sit quite far away you'll not be able to see the current volume level very well. Those are about the only negatives I think you could find with this kit.
Neat features - has a 'night mode' you can turn on to lower volumes without losing the surround effect. You also get a microphone with the system to run an automated calibration of the speaker volume levels - and it actually works
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Here's a few pictures I've quickly taken (forgive the spaghetti, haven't got round to tidying up yet):-
Hope this helps