This is truly an excellent deal! The VSX-53 list was originally $1100, marked down last year to $900 and now again to $500. Very good AVR at an outstanding price with a full 2 year Elite warranty. Yes, Magnolia is an authorized Pioneer Elite dealer so you can buy from them with no worries.
I have a VSX-52 that I bought from Magnolia brand new last year at what I thought was a great clearance price. $499.98 though for a VSX-53 is even less. Sure, basically it is the same AVR but you get another HDMI output and aluminum faceplate with the 53. If your looking for an Elite or thinking about just getting a new AVR, here it is. I wouldn't wait long on this one.
Marantz PM15S2 LE, Oppo BDP-103, Simaudio Moon 100D DAC
VPI Traveler V2 with an Ortofon Rondo Blue and Simaudio Moon 110LP, Technics SL-1400 with an Audio Technica AT-14sa and Pro-ject Phono Box S
Dynaudio Focus 260's, Rel T-1 and a Panasonic TC-P54S1.