Altec has their PT7031 Dolby Digital Sound Bar which originally sold for $600 on sale for $99 shipped. This model has been dropping in price since it was released in 2007...lowest I could find was $150 a while back from Sears.

User reviews are excellent (some are for the similar but larger 8051).
The specs:
TV, DVD, VCR, Cable or Satellite TV all plug into the rear panel. System includes: Three digital inputs (2 optical, 1 coaxialThree analog inputs Video output for on-screen display (OSD) used in set-up and operation. Subwoofer output for enhanced bass using an optional powered subwoofer
Cast aluminum body, NXT flat speakers, wireless remote, comes with feet for putting onto a stand (thanks for photo mushman), and wall mount bracket included.
The downside...no video switching/HDMI...so most folks will just use the audio digital out from their TV....you can still hook up iPod or DVD/Blu ray sound.
Also, the on screen menus are in Standard def not high def...once again, my guess is most folks will just set it up once...and then not use the menus again.
Altech has some very complete specifications and manuals under "Specs and Downloads" on their site....as well as quite a few photos.
While this is not the newest technology, it looks like a very classy way to add surround sound cheap, and probably sounds quite good, even very good if you have a cheap subwoofer to add.