DD 5.1 Home Theater Surround System

I'm looking for a nice, cheap surround system for an attic. Let me explain. :P

Its not exactly an attic. The door goes up in to a small room, then there are two smaller doors that go to the storage area. The first room is no larger than 10'x10'. We are turning this room in to a gaming room. We're going to get a 42" 1080p TV to mount on a part of the wall that is slanted and get reclining chairs to easily view the TV. The setup is basically like this,

____________________________
|........................................|
|........................................|
|..........x............................|
|..........x...........................T.|
|..........x...........................T.|
|..........x.............................|
|........................................|
|......._____.........................|
|......|_____| - Floor door..........|
|__________________________|
(the wall is more straight than that, didnt want to fuck with it and make it look right lol)
X = chairs
T's = TV

It is a very small room so I don't think a high wattage system is going to be necessary. I'm not too experience with surround sound setups so I'm posting here for some advice.

Recommend me a brand / exact system? I want to stay within the $100-150 range.

I was looking at this...

...but as I said, I have no idea whether it would be great or not.