I have, for a year now, a BV7 and I am very satisfied with it. Just get it, you won't be disappointed. The only thing I strongly recommand you is not to buy it right now, but to wait for some months, because there has been talk about an upgrade for some time, and it would be a pitty to miss that one.
About the speakers, I have to say the following: the BL7.1 is a superb speaker, with crystal-clear sound, very deep and powerfull bass and more power then you'll need. It's stereo image is good, but due to the size of the speaker, it is somehow reduced. For a second lounge, the speaker is more than enough, even if you want to use it for music-listening.
IMO, the worst thing you can do is leave the 7.1, as a TV without center speaker looks and sounds like crap and above all because the BL7.1 is the best stereo-center speaker you can get.
You can connect center, front, rear speakers and a subwoofer to the BV7.
The speaker modes are the following (if you have more than a center speaker):
- speaker1: only center speaker
- speaker2: only front speakers
- speaker3: center and front
- speaker4: front and rear (double stereo/ enhanced stero)
- speaker5: center, front and rear (DTS or Dolby Digital)
Hope this helps. You can PM me if you have other questions.