Am very impressed with the system. I don't have a 3D TV or ARC so I can't comment on those parts, but I didn't buy it for those.
The blu-ray works great, upscaling is also good (no idea why someone else critised this). Even with normal TV the multi channel gives great sound (though not true surround sound) out of all speakers which really fills the room with sound.
The actual surround sound gives clear crisp sound, am very happy. The USB and SD slots are also both useful for playing straight off flash media, the software copes well with it.
The only reason this didn't get 5 stars is that its not the best looking tallboys I've seen, but doesn't look too bad.