For your needs, you couldn't go wrong with the Pioneer VSX-1016TXV. You can find it for just under $400 at some online places, and a little over $400 at others. It has HDMI switching across 2 inputs that accept 1080p. These HDMI inputs will handle the audio and passing of video for multichannel sources that do internal decoding of proprietary formats, such as HD DVD players. Like almost all other receivers, it will only do a straight pass-through for devices connected to its 7.1 analog input. The X-Fi has great bass management and calibration options, so this is ideal anyway as you bypass unnecessary A/D - > D/A conversion.