My Yamaha RX-V465 arrived from 6th Ave. yesterday (paid 250.00 in name your price).
I had ordered 3 hdmi cables from Monoprice (20 bucks total; woo hoo) and setup was a BREEZE. I am using a Sony BDP-350s Blu-Ray player (open box, $131.00 from Macmall; pristine); an Xbox 360 and a soon to be replaced time warner dch3416 box (Direct tv comes tomorrow). I plugged in the 3 hdmi cables into the inputs, plugged the output HDMI to my Panasonic Th-50px60u plasmaTV, and off we went.
First, the receiver ran the speaker setup with the supplied microphone--took a few minutes, and scared the hell out of my cats. The result was nicely balanced sound between the speakers and much more low end than my old Panasonic XR-25 was able to supply (Diva 4.1/c3/2.1 speakers). The Xbox worked perfectly, so did the Sony and the cable box. Everything worked flawlessly right from the get-go.
The manual is ok, but backasswards--first, it has you do your speakers, and then leaves you hanging--setup is on page 33 or so. Go there first, and figure out how to set up and configure the inputs/sound settings. IT's pretty easy. I liked that it let me name my inputs (eg, "XBox").
I tried a few Blu-Rays. I had my Sony set to bitstream on "direct". Slumdog Millionaire is a DTS-MA title, and sure enough, when i pushed "option", it told me that it was decoding that. It sounded great. it looks great.
My question is this: I played Dark Knight, which is a Dolby True HD title. The receiver only said that it was playing Dolby Digital, but the bitrate was about 640kbps. Is this indeed True HD? I did NOT see any indicator (like a little blue light) that tells you it is decoding a Blu-Ray enhanced signal, or DTS-MA, for that matter. Am i missing something? The Sony does decode Dolby True HD, but i'm not sure if the Sony decoded it or the Yamaha did, with the Sony set to "direct".
Also, i'm wondering why it says my cable box is 720p when watching tv (though the Yamaha showed 1080i for blu's); i have my box set to output 1080i. Whatever, because it's being replaced tomorrow by a Direct tv HR-21, which should be a huge step up from the HORRIBLE dch3416.
Also noteworthy were the enhanced modes. Let's face it, they usually suck. Watching TV, however, with the "Enhanced" 7 Channel effect on was great--lots of space in the sound and use of the surrounds.
OTOH, the various emulated modes (like The Roxy, stadium etc.) are stupid, and i will never use them.
Overall, I'm very happy with the receiver. It sounds great, flawlessly controls all my stuff, and looks good too. I wanted a low cost receiver able to decode the new codecs and control my all-hdmi components, and this does the job beautifully.
Next step: get it set up with my Harmony 676, so i can toss all the extra remotes.
I'm surprised there is no official thread here for the RX-v465. It's a helluva piece, especially on sale!