Lost in 7.1 hell DLP projector / Plasma setup ?

Ok I may be able to help other Agoners with audio questions , but in the 7.1 arena I am pretty much lost. Which is a better choice in a dedicated home theater/ Living room setup. a 42"-50" Plasma or a DLP projector and screen. Also A friend told me there is a special wall paint you can use instead of a screen. HELP! Any HT suggestions would be greatly appreciated. My basic plan is to mesh my existing tube system into this room also. I will install inwalls for the HT system so any speaker recomendations also appreciated. I like to watch action moveies and DVD rock concerts and I like to play it LOUD ! thanks all!