Pros: great features, network connectivity, aesthetic design
Cons: no built-in WiFi, cluttered remote, ugly OSD
As to value, I got this receiver together with the Polk Audio RM510 5.1 speaker system for a total of $500, which was an incredible deal (it would have normally cost $700). The Polk speakers work great with this receiver.
The remote control is a bit cluttered, but it could be worse. After some time, you get used to it. The OSD (On Screen Display), however, is very ugly. You have to connect your TV using HDMI to see the OSD; it is not available with a composite output. Fortunately, the OSD font is large and easy to read, even over a 480i resolution. Also, the interface isn't incredibly responsive. All in all, however, it's not too bad, and once set up, you shouldn't need to access the OSD much. As to the unit itself, it is fairly attractive, with a nice glossy black front panel.
The VSX-1022 is loaded with many inputs. It features six HDMI inputs (with 3D support), optical and coaxial digital audio connections, FM/AM tuner, component video, composite video input/output, and RCA analog audio. It also supports Bluetooth with an optional adapter.
Feature-wise, the VSX-1022 does quite well. It has built-in networking capabilities via an Ethernet jack. This includes built-in support for Pandora, Internet radio (vTuner), and DLNA network media playback. It is also Apple-ready, and supports iPod/iPad/iPhone via the digital USB connection, as well as AirPlay for wireless streaming from iTunes or your iPhone, iPod touch, or iPad. The only downside here is that the VSX-1022 does not have built-in WiFi support.
Conclusion: This is a decent entry-level receiver, with tons of awesome features. However, it does have a few surprising omissions, such as no WiFi. I would recommend this model, but only if you can get a good price. Otherwise, you're better off looking for the newer Pioneer models, or even from another brand.