if you connect the speaker system to your television then you wouldnt have to unplug cables or switch the source. my family has a few sony tower speakers connected directly to the back of a tv. sound is decent but there is no subwoofer. theres a ~ 3 1/2 foot tall pair that sells for $150 on sears.com which is a good value.
another option would be to use an a/v receiver or HTiB solution. this is what i use for managing my 5.1 & dual input system. the fact that they auto-calibrate by mic is a godsend. hooking up direct to a tv doesn't offer this. overall price will be greater this route though.