Current-ly,

I recommend two or more duplex receptacle outlets at the home entertainment center location. If the homeowner is a real enthusiasist, or it's a larger custom home (say 4,000SF +), I put in two dedicated 20A branch circuits, each serving two duplex ROs in a 4S box.

The power strip approach has its advantages, if the strip is top quality--
--you can get a strip with a surge-supressor in it
--if you want to shut off the power to the equipment (vacation?), you can do it easily with a power strip.
--it's easier to unplug/plg in the equipment with a strip, as the wall outlets are usually behind the cabinet.

One suggestion--mount the strip on the wall or vertically in the cabinet. I've seen way too many strips that are covered with a layer of dust, with the slots of the unused receptacles choked with dust and lint. If anything causes a short and arcs, you're likely to get a fire. Of course the other option is good housekeeping...

Cliff