I purchased this receiver to replace an older Sony model which only had optical inputs. I got it at what I believe to be a very good price of $319.99 on newegg.com. Onkyo has a reputation of offering good value receivers that sometimes have a high failure rate. I knew this going in and took a chance. Overall I have been pleased with the purchase. It will last me until I feel the uncontrollable urge to upgrade to a more feature rich receiver or it dies, the former being more likely.
Things I like:
The Audyssey tuning microphone system helped me configure the setting to match my room and improved the audio quality.
Noise - the receiver is very quiet. No humming can be heard, a common issue on other Onkyos
Power - 100 watts per channel allows me to get as loud as I am comfortable getting in an apartment setting. The sound does not distort until you reach a level that would most likely make you uncomfortable.
Reliability - I have had no major issues with the receiver. I use it with multiple computers, a boxee box, cable TV box, and analog sound input from my phone. The inputs switch quickly and are all configurable.
Features - can hook up 7.2 or even 9.2 channels. Video processing does produce a clean crisp image to my projector. The menus are also available on the AVR itself or using a nice onscreen GUI.
Things I wish it had (but understand why it didn't given its price point):
Networking support - this receiver was one of the lower end Onkyos and as such did not include any wireless or hard wired networking capabilities. This means no internet music apps or support for the iphone/android app to control it. My roommate has a newer Onkyo with these features and they are very nice to have.
Bluetooth audio - I feel the next receiver I purchase must have Bluetooth support. I use my smartphone for everything and I need a way to get better quality audio without a cord to the receiver
USB - usb would provide a port to plug in a charging cable
MHL - this would allow MHL type cables which you can use to hook up your smartphones/tablets
No return channel audio - this would be a great new features