LED Xbox 360 Playstation3 Home theater?

answers1: what home theater you are using and if it has a bunch of
inputs then connect all your devices to your home theater system and
then connect output to the only hdmi input of you tv <br>
hope this helps.
answers2: Look at an Onkyo HT-S3500 home theater. This is a 5.1
receiver and a set of speakers. You connect your PS3 and XBOX to the
receiver and then connect an HDMI cable from the receiver to the tv.
You also need to connect an optical audio cable from the tv to the
receiver. Those other home theater in a box are not flexible for
adding anything to them or for up grading. Demo the unit at any Fry's
Electronic and it sell for around $300. Hope this will help you out.
answers3: One HDMI input that's horrible but what model do you have <br>
Connect ps3 and 360 to your surround and output from surround to tv,
you will need the surround every time you use any of your consoles
<br>
Hope this helps