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Checkbox Forumla Fields.... cant figure it out, please help

    I have six checkboxes in an event that where each one represents a certain stage of a demo/webinar. As the salesperson checks off the boxes for stages of the demo they have completed I would like to have a forumal field display whether or not the demo is completed which is based on a certain number of checkboxes being checked. Basically if any 3 of the first 5 checkboxes are checked, the demo is a "completed demo" or if the last checkbox is selected regardless of the other checkboxes being selected, the demo is completed.

for example:
s1 + s3 + s4 = completed demo
s1 + s6 = completed demo
s1 + s3 = not completed
There may be a better way, but you could get to there by having a formula field with a series of IFs that evaluated to 1 if true and 0 if false, with the last checkbox returning 3.  You could then have a workflow that fired when that formula field hit 3. 

Hope this helps.
you rock! that was a huge help, thank you!