Nate,
My sincerest apologies for the delay in getting to your thread. Needless to say, your friend has the resources to put together a great HT.
Could you perhaps provide a little more information about the room size? In addition, is there any preexisting equipment that is going to be incorporated into this?
I will say it can be somewhat surprising to see how much of a budget goes towards labor and even things like wiring when employing Custom Installers. Things like Home Automation are not cheap and what is often sacrificed to get all of the bells and whistles is component quality.
If this budget is going to be somewhat DIY centric, it really can make a major difference. The usual protocol with budgets like this is to meet with AV Stores who will in turn provide you with a proposal.
Cheers,
JJ