Just a couple thoughts on the vizio since i have the L32 (older model). First off, its made in the USA so if your going to go cheapo, keep more of the work here instead of china/korea/wherever. They also have a pretty decent warrenty.
No audio out is a problem, but sometimes you can run the TV signal through the 5.1 system before it gets to the TV (though i don't know about the sound system you're talking about)
The menu is a pain to use, since its dead center of the screen (not sure on the newer models) and so its hard to adjust the picture. Obviously, once its set you probably won't use it again. Overall i'm very happy with the image quality. The only downside is that 480p component from the wii doesn't look right. Like the colors are off and its pixilated. (looks great on my parents sony) However, my DVD player on progressive doesn't have the same problem. 720p and 1080i signals from antenna and my computer look good, so it seems only the wii has a problem.
If for some reason you got an extra $200, the 32" do come with audio out.
One random thought about the Olivia, its a refurb, which i typically don't like to buy, but its cheaper so you can't beat that.
