i'll just add my 2 cents to this conversation, and pardon if someone's already mentioned this and i missed it:
if i was a "rule of thumb" kind of guy, which i'm not, i would say spend at least as much on room treatment as on your monitors. if you have a $1k pair of home theater speakers, they could work very well as studio monitors, but not nearly as well as a $500 pair of studio monitors in the same room with $500 worth of proper room treatment. your ears may not lie but your room sure will.
most studios can afford several pairs of monitors, of which i imagine the home theater/bookshelf/etc. units are more reference checks vs. actual mixing monitors. i do reference checks on my home theater system (an old sony with 3-foot tower speakers and an infinity sub), my car, my studio headphones, integrated computer and laptop speakers, etc., but i don't mix on any of these (except occasionally the headphones). i found that in my bedroom studio, with 4" bass traps in 2 corners (floor to ceiling) and a fair amount of diffusion, i get much more translatable mixes in far less time than i did in my old space (a medium-sized living room with openings into every other room in the house).
the monitors (behringer truths, 8") haven't changed, and i certainly haven't gotten any "better" at mixing. it's simply a far better room setup than i used to have.