Home Theater/Receier/Cables Advice Needed

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I've owned this Kenwood 5.1 Home Theater since around the time the PS2 came out: http://inform3.kenwoodusa.com/manuals/vr605.pdf

Unfortunately, it looks like it's reaching its last legs. I keep losing the audio signal to the left and right speakers, and the center one's been giving me problems for a while.

At first I thought I needed replacement speaker wires. I bought a roll off of Amazon and replaced all the wires, but the problem persists. I get this "power down"-like sound coming from the receiver, forcing me to constantly jiggle, pull, and re-insert the cables to the corresponding speakers until they start working again. Sooner or later they'll crap out and I have to keep doing this.

So either I need to invest in better wires or it's a sign that the receiver is ready to go kaput. In light of that, I would like some suggestions on any good modern receivers and/or Home Theater systems, depending whether it would be cheaper to just replace the receiver or if I'm better off getting a whole new bundle. I'm seriously behind when it comes to modern home theater setups, so I could use some suggestions.

I just want to stress that I'm looking for a reasonable but budget price here, and that I'm not looking to make the house explode. This is just for me in my tiny room, and I already got enough complaints with the Kenwood. I would like to consider 7.1, if possible, and also if they've got wireless speakers down to a science yet (last I checked, the speakers would get constant interference from other devices).

Also, I'm not entirely sure if the receiver is kaput or the cables are just shoddy. If I fiddle with the cables connected to the receiver's port, the speakers work. I've heard about connectors (where you insert the wires into a pin and connect the pin to the receiver's ports), so I don't know if that would solve my problem.

And assuming the problem isn't with the speakers, then I could theoretically just buy a receiver without buying new speakers, right? If so, what's a good price on a recommended brand?

Basically I'm trying to find the cheapest solution to this problem. If it turns out it's just the cables, then that's the easiest and cheapest solution. If it's the receiver but not the speakers, then I just need a new receiver. If there's an equivalent price for a bundle that includes new receivers and speakers, then I'll consider that.
 
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