I chose the Next Generation Remote Control Extender I found on Amazon due to the loads of positive reviews, and the price. At the bottom of this post I'll include a video review of this baby in action!
Also for this setup to work smoothly I'm going to use the Logitech Harmony Advanced Universal Remote to control all of my devices. Since the remote extender comes with a special emitter battery that you place in your remote, using one universal "learning" remote is the way to go. There is a newer version of the remote I want available, but it costs quite a bit more.
So this is the basic overview of the media closets purpose and how it's going to function. I hope I wasn't to vague on how everything works together, feel free to ask any questions. As you can tell, I'm a bit of a gadget freak. 0_o
Video review of Remote Extender.