Best Budget Receiver Hdmi Hi Which Audio Receiver & Home Theater Do I Need For My 38''Philips HDTV/LCD?

Hi which Audio Receiver & home theater do I need for my 38''Philips HDTV/LCD? - best budget receiver hdmi

Hello 38''Philips my HDTV / LCD. I have to play my Playstation 3 and to see my Blu-ray. OK, some audio receiver and surround speakers, which included a DVD player, but I will not buy a DVD player, because now Blu-ray. Anyway, my question is: what kind of "audio receiver and speaker surround sound" is in 38''HDTV my work and my Playstation 3? My budget for a channel of 5.1 would add on $ 500 or less. Thank you!

Note: My Playstion an optical 3-port and HDMI port, and I'm not sure if that helps. My HDTV has 2 HDMI connections.