Pros: Lots of HDMI inputs
Cons: No upconverster, no support for processor, no audio outputs.
I bought this receiver because I was so happy with my original VSX-5000. That receiver had everything I could desire at the time.
The VSX-1023 is a real disappointment. It includes input support for composite video and for component video, but there is no upconverter. These video modes can't be output via HDMI. I'm wondering who's bright idea that was. Having these inputs is useless, because most TVs support only HDMI. Some support component, but try to find one that supports all three. Even if you have a TV that supports them, you have to do all this external switching in addition to the controls on the VSX-1023. Useless.
The other big complaint I have is that there are no audio outputs at all (except speakers and sub). No support for an external audio or video processor, no support for a video recorder or cassette recorder. No support for using optical or analog signals to my all-house audio system. What were they thinking? This receiver is a stand-alone and does not work with anything else.
I really hate this receiver, and I hope you look for the features I mention when looking for one.