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Thanks! If anyone has a suggestion for another make/model that won't break my wallet, please post away.
http://www.jr.com/denon/pe/DNN_AVR1909/
IMO, it is an all around better receiver and performer in every aspect. From multi-room capabilities, to full 1080p upscaling.
Nonetheless, if you do insist of having it all ASAP, then the Polk RM705 HTIB is within your budget.
http://www.jr.com/polk-audio/pe/POK_RM705/