I only really watch stuff in my room, have my computer connected to the PC screen via VGA and then connected to my 31" TV (within the same room) via HDMI.
Have an application on my iPhone called jumione for remote desktopping and playing TV while in bed (will most likely switch to LogMeIn soon) mixed with the apple remote app for playing music through iTunes.
My speakers are connected to my PC so no dramas there, if I had external speakers in the house I would just buy an apple airport express as I play all my music with iTunes!
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