TTA89,
Not only is the 1050 an impressive piece of equipment for a spectacular price, the customer service is top-notch. I have never had a problem with my 1050, but if I did, I know the Outlaws will treat me with respect and do just about anything to help solve the problem.
This forum is also just about the most handy feature of the Outlaw universe. I always know when I have a question, I can post it here and get honest, informed and (somewhat);)unbiased responses from people who know what they are talking about. Outlaw to Outlaw is an especially handy resource.
I made the jump to 5.1 home theater about two years ago and was extremely satisfied with the results.
I don't worry about the 6.1, 7.1, 8.1... possibilities as, like John, I don't have the room either, and the WAF for me would be pretty low for such an addition.
From the description of what you want and your listening/viewing habits, the 1050 sounds like a perfect fit.

Good luck,

Chris

P.S.-Don't forget, there maybe a 1050 available in the B-stock section. I suspect that is improbable though.