Billken, I'm looking for something similar, right now I'm leaning towards the Sony STR-DN1040. It's roughly $600 and has been getting decent reviews. It has 8 HDMI inputs and 2 HD component video inputs which I need for a Wii. I may also use the component inputs for my satellite receiver if it causes me grief via HDMI. I've seen some posts that claim using DPLIIx front-wide speakers enhances the gaming experience as well --- may want to add that to your list if you're interested.
AAronh, unfortunately the PS4 isn't backward-compatible with the PS3...not sure about XBox though.