I'm am fairly ignorant as well, but I've seen them in a few homes. From what I've seen, you can have these wired in your ceiling walls for future use or immediate use. If you want to use them right away, I think you need to purchase a receiver/sound system that you store in a closet somewhere and then you can run your DVDs and CDs from this system and you can hear it throughout the rooms where your speakers are. You can choose to do this in some rooms or all rooms, or outside decks, etc... obviously the more wiring, the more expensive.

From my limited knowledge, the actual wires in your walls are not too expensive so if you think you might want it for future use, it might make sense to do it while building. The receiver and equipment is more expensive.

If nothing else run what are called "smurf tubes" in the walls where you thing you might want to put systems. These are the pretty big blue plastic tubes that can be bought anywhere. With those in place, it makes it easy to fish whatever wiring will be needed down the road.

I didn't and I still regret it!

Wires? Oh so 20th century! There's alot of wireless out there now. Computer to receiver, computer to tv, receiver to rooms, you name it.

Ditto woodswell & fromplattoplace. My addt'l two cents --

Use wall speakers unless you have a drop ceiling (usually in basement). PVC or smurf tubing is definitely cheaper & easier now. Without knowing your current budget, trying to retrofit multiple locations later would be very costly. Your cost at this point would only be the conduit and the labor to drill holes and install outlet boxes. You could forgo the outlet boxes if you record the precise locations of conduit ends. Speaker wiring can be run later and terminated in "old work" low voltage outlets. You might also want to add 2x blocking or plywood reinforcement at proposed speaker locations (i.e., don't rely on positioning on a framing stud). I would also take up Tracy's offer of help.

Finally, I am an elec/comm engr and am not a fan of all things wireless. Telephones, internet modems, and security systems have all added wireless capabilities. They are getting better at operating in non-interfering frequency bands but many still overlap. And then there is the microwave which can be very disruptive based on its location compared to other system transmitters and receivers. The other issue is current wireless speaker technology is still at the crawling stage. Try here -- http://www.practical-home-theater-guide.com/wireless-speakers-systems.html -- for one independent assessment.

You guys are just AWESOME,
It has not been even few hours since I posted my question, and lo and behold..so many helpful responses. I am sure I will not feel lonely again.
Thank you.

Just a little pet peave. Surround sound system are the 5.1 or 7.1 systems centered around a TV. The term is also used for whole house audio which is not accurate.

Whole house audio is speakers in various locations tied back to a single area. It has to do with listening to music and not watching TV.

People use the terms interchangeably and that is not accurate.

FWIW - most TV watching is not subwoofer worthy. Movies yes, TV no (expect maybe 24 and Lost). You will likely not appreciate 7.1 outside of a dedicated theater. Most people won't appreciate 5.1 outside of a dedicated theater. If what you watch 90% of the time is just dialogue (like a soap), then don't waste your money on surround sound systems.

Smurf tube makes sense in many situations but not for speakers. It is cheaper to install wire. For home theater situations where the type and amount of wire is unknown, that is a different story. Every speaker gets 2 conductors of copper - only size matters. Smurf tube requires bigger holes in studs and still requires wire later so why double pay?

Thats a good point on the Whole Home Audio;

If you just want background sound for Parties or holidays, the Ceiling route works very well, as they are hidden and out of the way. Bose makes some very nice In-ceiling speaker that are great for music. (Model 151s)

Have all of those speaker leads terminate in a closet and use a home audio receiver and your choice of media player (CD or Ipod) to connect to it. have Volume controls installed for each room, or a remote control system.

On My blog, Check out Slides 31 & 83 for some photos.

Here is a link that might be useful: From Plat to Place

OK -- I'll agree with david_cary about running the wires vice conduit. Your biggest challenge will be layout design to determine where the speakers, main control, and individual control points will be. The best thing about the surround sound vs TV issue is you have the backbone wiring installed and the actual system components are external and can be changed as desire and budget permit without tearing into your house.

As a rule of thumb, if you install 12ga or 14ga, 2 Conductor wire in your walls, you will be A-OK for Speakers. HDMI 1.3 cable for your TV or Projector also.

for Locations.. Really, just go with something Symmetrical..
You probably have a good idea of how the room will be laid out and were the TV will be going.. Plan from there.

Crutchfield has some really good info on how to wire something up;

http://www.crutchfield.com/App/Tab/Learn.aspx

Here is a link that might be useful: Crutchfield - How-tos

Everyone,
Thanks a lot...As I said - each comment is valuable to me since I am absolutely new to this concept.

Your very welcome.