Got a great deal on this unit for $350 from an authorized online reseller so couldn't pass it up. Figured it would make a nice addition to a bedroom setup or something. It only has 2 HDMI inputs and doesn't do any upscaling but rather just transcoding from other analog sources to HDMI which works out fine if your display does a decent job of scaling. It decodes all lossless format bitsreams and accepts PCM sources with a modest selection of DSP sound fields to choose from. No THX and no matrixing of lossless format or multichannel PCM 5.1 to 7.1 however. I do like the fact that it has an option for "Straight" and even "Pure Direct" for all sources if you elect to go with no sound processing. The YPAO sound optimization (Yamaha's version of Audyssey) does a great job and I found myself not doing any further adjustments as opposed to experiences with Audyssey on my Onkyo NR905 & SR705. Sound quality is great. I guess having quality components like Burr Brown DACs and custom capacitors do make a difference. This Yamaha might have a ghetto looking OSD but it makes up for it in sound. In fact, because it switches HDMI sources faster and doesn't make a "pop" like the Onkyos, I prefer this receiver to my 705. It doesn't quite have the power of the 905 but for $350, the Yamaha would make one hell of system when paired with an amp of choice. Yamaha calls it a "7.2" receiver because it has 2 subwoofer pre-outs which is a nice thing to have if you ever have to entertain the idea of having two subwoofers :) It also has a proper 12v trigger unlike my 905 that costs 4x in price. It generates heat but nothing like the Onkyos. So far, I'm so pleased with it that I'm thinking of getting another one to replace the 705 in another bedroom which still has a slight lip sync error even when manually setting it and the HMDI switching and channel changing still has its hiccups compared to the Yamaha which operates much more smoothly with no lip sync problems.
<img src="http://akamaipix.crutchfield.com/products/2008/022/x022RXV663-b.jpeg">

Although I may when I start using the iPOD.

now you need to buy more bedrooms.

that price?

6ave.com. $350 but is was for a limited time. Not sure if it's still on. I also heard that Alex at JR.com still offers it for $399 w/ free shipping if you mention "AVS forum"

I like it better than my 705. The 905 is still tits, but at 5x the price it better be.