Pros: Excellent quality and sound!!
Cons: Manual and menu items take some getting used to
The Denon receiver offers HDMI ARC, as well many other features. It is 3D compatible, and 4 HDMI outputs. A GUI overlay makes it simpler to use and is accessed with the remote. The five channels are powered by 75-watts each, and each one has its own discrete circuit, which makes for a higher quality sound output. The subwoofer, like the 5 speaker channels, does not only also have its own discrete circuit, but it's also an active subwoofer, which means it is powered separately from the receiver, which I've been told makes for a better quality bass sound. This is because the receiver is left with more power to send out the speakers. The receiver has the ability to decode all the audio codecs out there, including Dolby TrueHD and DTS-HD Master Audio. The Audyssey MultEQ Support includes a microphone that you move around the various parts of your room in order to perfectly calibrate the receiver.
But there's more! If color is something that matters to you (and it should!), the AVR-1612 also includes Deep Color and x.v.Color Support. You are able to configure the volume levels (-6 to +12) of each speaker and subwoofer as well. Of course, the center channel should always be the loudest, and I have it up at 12. These volume levels are separate from the main volume of course. You also have the option to go into the menu and shut off the various speakers. Sometimes to keep the noise down at night, I do just that with the rear surround speakers.
The only real cons are a menu which is apparently so difficult to understand, "cliff note" versions had to be made (http://batpigworld.com/setup.html; this site also helped with the subwoofer: http://www.koledigitalsystems.com/site/epage/126320_911.htm). They should've made it easier to understand. This includes some of the menu items. They could be more clear on what they actually do.
One bit of advice with this system: When choosing the "movie mode" you want, I have noticed that the SECOND one from top is typically the best. For example, when watching a movie on blu-ray that has say, DTS-HD Master Audio, the option for this audio format will always be second from top. SO ALWAYS GO WITH THE SECOND ONE FROM TOP. Once you select it (I don't think it's the default initially) by pushing the movie mode button, the second option from top will become the default. And by "it" I really mean the receiver will always go with the default from the blu-ray, which is USUALLY the best format, though not always. If like you put in a concert blu-ray for example that has DTS-HD MA, but the sound coming through is 2.0 Stereo, you will still have to change it on the blu-ray player to get the DTS-HD MA.
Well I hope you enjoy your AVR 1612! Overall, it's a great product, and I love it!