Pros: A wide array of inputs and outputs, support for deep color video, MCACC audio room calabration, and a solid powerful amplifier section.
Cons: Its getting a bit long in the tooth at this point (that's why it gets only 4 stars).
I, like many others, am not in love with the remote control for this receiver. After working with the remote through the set-up, I replaced it with a Harmony One that works perfectly with the receiver and my other devices. So, that's the end of my dislikes.
Despite the remote, setup for this receiver is relatively straight forward. Of course, the fewer devices you connect to it the less work it is to setup. Nevertheless, I found setup to be something I could easily work through in a afternoon (and that includes all the cabling and cursing at the lack of space in my cabinet).
I use the receiver in a 7.1 setup with Klipsch RF3s for left, right and center, and the matching surrounds. I have two little speakers from an old setup (Cambridge Soundworks) that are in the rear. An infinity 12" subwoofer on the left front and a B&W subwoofer on the right complete the speaker setup. I have an Panasonic SACD/DVD-Audio player, a Toshiba upconverting DVD player, a Panasonic Blu-ray player (which I love), an HTPC (which I build with this forum's gratefully accepted aid), and a DirecTV Genie satellite receiver connected to the receiver which outputs to a Panasonic ST60 plasma. The whole setup is networked to the internet and a server which contains digital music and video through the HTPC (I could get it through the receiver, but, face it, the interface for receivers is clunky compared to what can be provided through the HTPC).
This receiver brings the RF3s alive. With the 3806 they were a bit bright. With the Kenwood, they lacked punch. Not any more. The amplifier section in this receiver is solid and powerful. you never find yourself wishing for more, its just there. If you like audio processing there is a wide range of choices. If you don't, you won't need it.