It is a bare bones, low powered, receiver. If your budget was $150, I'd say go for it. At $250 though, you (should) get Audyssey room EQ, and some other nice features. For that extra $100, you get a lot more for your money.
With your two subs, I'd recommend getting a receiver with Audyssey MultEQ (or even better, XT). That should put you right around $250 refurb or clearance.