I won't spend too much time repeating what the other reviewers have said, but I agree this product seems a very good value considering the price and features. Note that my setup is all HDMI, run through the receiver and out to the TV.
A few words of caution that are not necessarily a fault of the receiver but can affect your overall experience:
1. Lip sync was a problem at first. There is an option to automatically handle it with the TV, but apparently my TV does not have this feature. I had to manually delay the audio about 40 ms to get it right (and it drove me crazy until I finally got the right delay).
2. I use the rocketfish wireless surround kit for the rear speakers. There is a delay inherent to that product, and after running Audyssey I had to manually change the distance to the rear speakers - due to the delay it calculated they were 28 feet away, instead of about 8. Easy fix, however just make sure you double-check.
3. I started playing with the surround features while playing Xbox360, and noticed it stopped outputting Dolby 5.1 and was only recognizing 2 channels of input. After driving myself crazy trying to fix it through the menu options (which are not always intuitive), I went into the Xbox settings and de-selected Dolby Digital, then re-selected it. This fixed it but again, other Xbox users take note. It took me days to figure it out and completely by accident.
4. After running Audyssey the subwoofer was way too loud, at least for an apartment. Easy fix, just turned the sub down.
Overall I recommend this product, and suggest that once you do the initial setup don't fiddle with it!