This image wall-mount setup should give a good idea of the current TV set up on the wall.
I wanted to use a SmartStrip to power my TV and all the other devices (receiver, BluRay player, Wii, cable box) so when my TV goes on standby, the SmartStrip automatically turns off (fully) all the other devices plugged into it. The guy who did the mounting did not know what he was doing (and neither did I), so he used an extension cord to make the TV power cord go down behind the wall, along the basement ceiling and come back up in a hole in the floor behind the entertainment stand! Apparently this is against code and I need to make this right ASAP. But I am still very particular about using the SmartStrip.
What is the best way to do the wiring do I can continue using the SmartStrip, not make any more holes in the wooden paneled wall and leverage the accessibility behind the TV, into the basement and back up? I have heard of solutions like PowerBridge -- is this a viable option? Is there some way to install some sort of power outlet box in the holed space behind the TV and run a code-compliant wiring along the basement ceiling and somehow leverage an electrical outlet in the wall behind the entertainment stand?