Newegg offers the JBL 300-watt 5.1 3D Blu-ray Home Theater System, model no. BD100, bundled with the Seiki 32" 1080p LED-Backlit LCD HD Television, model no. SE32FY22, for $399.99 plus $1.99 for shipping. That's $313 under the lowest total price we could find for these items purchased separately elsewhere. The sound system includes a 5.25" subwoofer, four 2.5" satellite speakers, a 2.5" center speaker, features a frequency response of 20Hz to 20kHz. The HDTV features a native resolution of 1920x1080 (1080p), USB, and three HDMI inputs.
Newegg offers the LG 22" 720p LED LCD HD Television, model no. 22LN4500, for the final-checkout price of $179.99. This $30 mail-in rebate cuts it to $149.99. With free shipping, that's the lowest total price we could find by $78. It features a 1280x720 native resolution, an edgelit LED, USB, and one HDMI input. Deal ends March 16.
Update: Although Newegg notes this as being 1080P, LG shows it as being 720P.
Update 2: Shipping is now 99 cents. Despite the increase, it's still a price low by $77.