HDMI Cable behind wall?

I have a gas fireplace set into the corner of my house at a 45 degree angle. My plasma TV is hung on top of the fireplace. I have already run a leviton recessed 120v outlet. I drilled up though the basement floor and ran romex up through the hole to the wall where the tv hangs. The other end is terminated at a new 15amp circuit breaker. This works great. I would like to run A/v cable as follows. (2) HDMI, 3 speakers on side and bottom of tv, and also a Cat5e and three rca jacks for RGB. My question is that i only have two options. Do I run all these cables down through the basement and then up and out next to the fireplace or do I go horizontally through studs over to my a/v equipment which is on a four tier stand next to the fireplace. thanks in advance. This one is a head scratcher