This is probably a bit late, but here goes...
How cheap is fairly cheap? $500? $1000? More or less? If you want specific recommendations that are worth a damn, I need a hard budget. Bear in mind that good/quality surround sound is probably going to run you a couple of grand at least. It is usually far better to ditch surround and get a good stereo or 2.1 system instead if your budget is much below that. The quality will be much better and you can easily add the center speaker and surrounds later presuming you'll be using an A/V receiver.
However, I do have some general advice:
-Always, always, ALWAYS listen to the speakers you're planning on buying using material you know well (i.e., have brought into the shop yourself) to get a feel for how they will sound. If the stereo shop owner/manager/clueless sales drone won't let you, look elsewhere.
-Don't be afraid to buy used, again after going and listening to the speakers/equipment. Well cared for speakers last practically forever.
-The subwoofer can usually wait; good ones are going to cost at least ~$500 or so by themselves, and we haven't even added the fronts and receiver yet.
That being said, if you're a complete basshead, the Klipsch sound might be for you. I'm not terribly familiar with many other brands, so I'm afraid I don't have much else to say on that front.
A/V specific forums you can check out: http://www.audioholics.com/