I'm gearing up for Metal Gear's release and am looking for a good pair of 5.1 Surround Sound headphones in the $100 range. I may be asking for the wrong thing with the "5.1" request. Hookup would be through a 1/8" jack on side of my tv (sony 40v3000) receiving signal directly from ps3 through...
I picked up a 32" Sony 32s3000 on clearance for $800. It's native 720p but does state 1080p available over HDMI only. Haven't hooked up the ps3 to it yet, but I've been very happy with it picture quality from other 720p sources. Besides the screen size it certainly meets all your other criteria...
Cookies and Cream
http://www.gamefaqs.com/console/ps2/data/450719.html
Should have seen the reaction of my wife's face when I asked her to play with me.