The most important component of a home theater depends upon the person, equipment, budget and space everything is set up in, including seating, lighting, flooring, etc. Here are components carrying the most importance.
Left to chance, the set up on the entire home theater system and area could be chaotic. For example, there needs to be room for the projector to show on the screen without interference from anything (high furniture, misplaced lights, etc.) Not to mention, if the main theater viewing screen is not the focal point of the room, many guests will not be able to view anything well, there could be a lack of seating for the right gaming and other screens, quarters could be cramped, remotes and other tools and minor equipment disorganized ?resulting in not much fun!
Likewise, if family needs are left to chance, chaos could rain. Let?s say the family budget is a bit tight. The teenagers all have an Xbox console, compatible gaming accessories and games (hence the budget is tight now). Everything is purchased, assembled, placed, up and running. And oops, you realize your wife bought a Playstation instead of an Xbox 360. Could be no biggie, however, the kids wanted to use their old games and compatible Xbox gear and really wanted the Xbox 360 to play live games with their friends who also have the system. Bummer. Plus you really didn?t need a DVD or VCR, but she bought those as add-ons and you cannot return them (or the Playstation). The final straw is that your super-duper speakers are not the kind that work best with your lower-grade media center. So sound quality will be lacking. Had needs been met, this chaos would be eliminated.
Ditto chaos with set up, if left untested. As a Tim the Toolman (from TV) example, if you set up all your equipment, hook up all the cables, etc. then rush off to work, not bothering to thoroughly check systems out, uh-oh! You may come home, deactivate your home alarm, and set off your home theater system ? all at the same time. And ditto with the video and audio components. Your audio could crank its highest resolution and burst your windows.
Of course same thing with your additional items; your VCR, DVD player, gaming console and other equipment not mentioned above, your chairs, shelves, storage, lighting, organizers and anything else. No one want to trip over a couch, getting up from watching a movie!
So take time to place importance on the main components of your home theater system.