Going down between studs on an interior wall would be the easiest (I did something similar recently when dropping surround speaker wires down from the attic to behind the entertainment center) and should be feasible with the rack beneath the TV. You might want to look into a slide-in junction box (probably a quad box or larger to give you room to pull stuff through) to help keep the wiring clean at both points where you enter the wall - that way you could cut the appropriate size hole out and simply slip the box in, rather than trying to cut away a large area and mount the box to a stud. If you did have to cross studs inside the wall, it would probably require cutting away some sheetrock and patching. Unferth's approach of a really long bit could also work, but you'll need some serious patience and perhaps a bit of luck to thread your cabling through the holes if there isn't a hole in the sheet rock right next to them (a hole at each stud would take care of this, but will entail some wall patching of course).

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