In short it won't, in most cases. However this will be hassle free. A surround setup comes with a lot of "ifs & buts", however if patient the rewards are great. An HTIB is a no hassle solution, but in most cases it can't compete with a full 7.1 HT setup.
I am not faffing - my cousin has the same system, and though great for surround effects (it is pretty amazing what it can do for effects) it leaves you wanting more almost everywhere else.