recommendation for upconverting receiver?

I have pretty modest needs, but I want to cut down on the number of cables between my receiver and flatscreen LCD w/HDMI.

So I really want a receiver that upconverts between both component and composite to HDMI (I have both component and composite gear still and will for a while). I don't need embedded audio between receiver and LCD. It should have at least 3 HDMI inputs, and should have the ability to take HDMI video and optical digital audio from my Mac Mini running Boxee.

I currently have a good quality Polk 5.1 setup, that I'm happy with. My Sony receiver currently outputs 7.1, but I'm only using 5.1. I really don't need or want to add two more speakers, so 7.1 isn't necessary.

I don't need "audiophile"... I am a musician and have an expensive monitor chain in my studio but I don't see the need for audiophile gear for listening.

Anything come to mind please? If this is better asked elsewhere, please advise. I've browsed and searched the site and not found any specific recommendations that seem to work, but let me know if I missed it. Thanks!

Too big of a question y'all? Too many options to choose from, or too few?

The problem is I see plenty that will upconvert to HDMI from component, but are there receivers that upconvert from composite and s-video too?

...or is it just that there are no cheaper receivers that do this? Every time I see one on one of the deal sites they never seem to upconvert.

Can someone please advise if I'm breaking protocol with this request? Or is it not clear what I'm asking? Or am I completely clueless? I've lurked enough to see others ask similar questions... thanks...

Cheap... does such an upconverting beast exist at ~$500?

For reference, I'm replacing a Sony STR-DE995... so as you can see I'm not that picky.

http://www.epinions.com/review/pr-So...t_102250679940

Looks nice... but only upconverts to 720p... how much of a deal is that? I haven't done an a/b between 720p and 1080i...

Thanks, that all makes sense. Should I be concerned that it won't pass 1080p? My Apple mini puts out 1080p via HDMI... and that's what I use for Boxee. I do play HD content off it, and though none of it is 1080p yet, I'm sure that's going to happen eventually.

I guess I should compare 1080i and 720p directly.

Is there a receiver that will pass 1080p through HDMI as well as doing the upconverting like the 247?

The Denon seems like the winner right now, especially considering the extra HDMI input... thanks so much everyone for chiming in.

Ahh, the HK AVR-254... that might be the one! Even cheaper then the Denon, 3 HDMI inputs, 1080p support, the manual is a lot more friendly then the Denon (so hopefully so will be the UI). Thanks again for all the recommendations and discussion...