If I just set the front speakers on the floor and the rears on stands am I going to miss much of the home theater experience? Also the center speaker will be about four feet off the floor on top of the entertainment center over the TV.
It sounds to me like your center channel speaker is in an optimum possition. You would always want that one in a centerline possition with the TV/Screen.
In an ideal situation one would want the front L&R speakers at about ear level. That would give you the best sound.
My front L&R speakers are mounted on the wall flanking the TV. I angled them down a little towards the couch for maximum effect.