A cleaner way to run those IR emitters is to use the CAT5 in the wall, but terminate them using a mini-jack port. The IR emitter just plugs into the port in the wall (looks nicer than wires just sticking out of the wall). You use the Leviton QuickPort frames, drill a hole in a blank and stick the jack through the hole. Looks very nice when done... and works very well.
I used a single CAT5 cable to each TV - and used these mini-port jacks in both directions (my IR Receivers and emitters both plug in).
I bought my mini-jacks here: (at the bottom of the page)
http://www.hometech.com/techwire/inserts.html#161-3502