Finally after months of holding back, even I am finally going this route.
Ordered the Denon 1912 from amazon.de along with a not so costly sub Kenwood SW-40 HT-BK and OFC speaker cables and Optical cable.
Also ordered the ETC 5.0 pack from US, some good deals from NewEgg.com between $150-180 (I bought at the higher end). Some of my friends coming from US will get these ETC speakers as without subwoofer these will not weight much.
So finally should get a 5.1 setup ready up and running once I get all the things by March first week. And will update on the overall experience.
In future will use 1912's 7.1 capability for 2 additional speaker for zone 2. And keep the HT setup as 5.1 only.
So no more 110 to 220V conversion and Europe model also has MultEQ-XT as compared to US models.
I just need to connect my existing setup of Acer H5360 720P 3D projector and my WD and HTPC with this to enjoy all movies in 3D with great Audio.
Overall cost just coming around 50K