The WAF is why I went with a wall mounted bookshelf sized speaker design. I had always wanted to try building my own (I love woodworking), and I was able to finish the speakers in white which didn't clash with the wall color (wife's suggestion).
The room won't work too well with rear surround either because our primary sitting position is a couch against the rear wall. The surround speakers are mounted on the rear wall to either side of the room. These are upward firing speakers similar to the GR Research surround design. I suppose I could place one or two rear speakers in the middle of rear wall (just above the couch) but this would be more of a 6.1 than a 7.1 system. Still, it might add something worthwhile.

Hint to Outlaw ... How about a wall mountable sealed box speaker design? Also consider a plain white finish with a white grill. Some wives think speakers should be heard and not seen (or at least not stand out).