JR.com has the Onkyo HT-RC160 7.2-Channel Home Theater Receiver for $350 with free shipping. Features a power rating of 80 Watts per channel, 5 HDMI inputs, 720p/1080i video upconversion, dual sub support, and Dolby/DTS decoders.
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Good receiver. Same features as the TXSR607 without the front HDMI input. Newegg has this for $379 with free Onkyo iPod/iPhone dock ($99 value). Seems like a better deal to me.