That is a nice setup, however, I'd prefer something different.

For start, how big is your room and how far is the sitting/viewing area?

For AV Receiver, I'd strongly suggest the Pioneer VSX-1019AH-K. Definitely best bang for the buck that's on par, if not, better than the Denon listed. Think of it as the "baby-Elite" series. I've tested it along with other Elite series and it's definitely up there. Otherwise, with that money, I'd look into the THX Certified Receiver (Pioneer Elite Setup).

As for speakers, if you have enough room (which I assume so since you'll be using projector & screen), spend on some good quality front stage towers and centers.