I have been bringing hi-fi equipment over with me from the US/Singapore/Malaysia etc for the past 2-3 years. Some of my observations:
1. In the US due to the TSA rules - bags can and will be opened (especially if they have audio equipment - suspicious looking black boxes).
2. Though TSA officers are honest they dont do a great job of repacking the eqpt., so be prepared for damage when you arrive back.
3. The most friendly customs - IMO is Mumbai - especially when a bunch of flights arrive. If you have 1 checked in bag they will just let you walk out without using the scanning conveyor. Also they do not care if you have 1 component like a rcvr., dvd player, cd player, preamp, amp etc.
4. Second best was B'lore. I have had problems in Hyd. and delhi to some extent. no idea about chennai.
5. IMO the easiest components to bring back are the half width chassis comp. like the cyrus series. They can be packed carefully even with clothes around them and even if the bags are opened they tend to remain safe.
6. For projectors and such it is better to bring them in as carry on if they will fit (the newer 1080p lcds will not as they are big). I dont think that a projector will last in the checked in baggage.
7. Finally if customs stops you it is always good to have an invoice for the component with its serial no. clearly mentioned. Based on the value you can haggle with the customs guy and maybe work out an arrangement

. That is why i always buy a bottle of scotch (black label and chivas 12 are the most popular) and they really dont care about the much more expensive single malts:lol:
Anways thought I would share some of my experiences.
cheers
Sid