Help with finding a suitable receiver

So after years of using a HTIB setup (Logitech Z-5500) I am in the market for a real stand alone receiver.
The main reasons I want a receiver are: more connectivity options, better upgrade-ability and hopefully in the long run better sound.

I am an avid gamer so this receiver would be used primarily for playing games, though I also watch a blu-ray or dvd every so often.
It will be hooked up to a Wii and a PS3; now I am not sure if every receiver supports it, but I would like for it to support Dolby Pro Logic 2 since the Wii has no real discrete audio support and for my PS3 at least DD/DTS and LPCM. In the future it will probably be connected to a Wii U as well (also a motivation to get a receiver since it will only support LPCM audio through HDMI).

My plan is to re-use my 5 satellite speakers from my Logitech Z-5500 for now as to spread out my purchases a bit more, but the plan is to eventually also get 5 new speakers essentially replacing my whole 5.1 setup.
I will need a new subwoofer since the one that comes with the Z-5500 is proprietary and doesn't sound that great anyway (really boomy and the bass is not very tight).
Any suggestions on recommended speaker bundles and subwoofers are appreciated.

The space I will be using it in is approximately 5 x 5 meters so it is a decently sized room, I don't know if that is helpful information for choosing a receiver or that it only applies for determining which speakers are suitable for the room but I thought I should mention it just to be sure.

Now I have done some research on different receivers and terminology (tested frequency range, impedance, THD, etc) and have heard about the trouble of finding honest receiver specs.
That is why I would like opinions on good receivers since just looking at the receiver specs isn't getting me anywhere.

I have looked at several receivers and I was thinking about getting the Yamaha RX-V373.
Though I am not sure if it has a decent amount of power since the way they measured power is not RMS and only on the 1KHz frequency and of course the fact that I am not very familiar with receivers since I never actually owned one.
Any opinions on this receiver or a better one for ideally around 300 euros would be great; I would like to keep my purchase under 400 euros since I also will need to buy a new subwoofer.

Thanks.

Thanks for the info, I indeed don't need networking and while HDMI standby pass-through looks like a cool and useful feature I could live without it.
Though if it means that the RX-V473 has more power and is more reliable I am willing to go for that one instead should I get a Yamaha unit.

Could you explain what you mean with having to run an "extra cable to the tv"?
I don't mind if the receiver does not upscale the source and just passes it to the tv as is.

So if I get what you are saying correctly:
I cannot simply have a single HDMI connection from the receiver to the tv, then connect my wii to the receiver through component cables and expect it to be displayed?
The only thing I can think of with what you mean by running an extra cable is:
Wii connects to receiver with component cables -> receiver connects to tv via other component cables.

Also a few questions in general:
What has your experience been like with the RX-V473?
How useful or effective is YPAO as opposed to roughly calibrating the system by ear?
What kind of speakers do you use in conjunction with the AVR? (as to get a rough idea what I should look for in speakers power wise)

If anyone has any other good suggestions for brands or specific models, I am all ears.

Thanks Beeman I will look at some Marantz/Denon units as well.
What I meant with upgrade-ability was being able to actually replace speakers and such, a privilege I didn't really have with the Z-5500. :P
But as said I will use my Z-5500 speakers until I have found some suitable proper speakers since I don't want to skimp on the audio quality.

I will look into your recommendation for a subwoofer.

Keep the suggestions coming people!
Edited by MPliskinS - 8/31/12 at 8:21am

Thanks for the explanation pertaining to connecting my wii, it makes sense now and I will probably get some extra component cables to connect from receiver to tv then.
Question though, is there any disadvantage to connecting my video cables directly from the Wii/PS3 to the tv and just have the audio for Wii/PS3 go through the receiver? Or does this introduce synchronization issues between picture and sound?

There are Z-5500 speaker sets that use proprietary plugs I think to connect to the subwoofer.
But my Z-5500 speakers use normal speaker wire to connect from speaker to the subwoofer (two sperate wires color coded with red and black to signify plus and minus); that shouldn't be a problem then right?

Thanks for the RX-V473 specifics.
I am leaning towards getting it since it is just within my price range and will be a significant step up from what I have.

Still looking over some of the other AVR recommendations made here and I think I have enough info to go out and try some of them in a store to make my final decision.

Thanks for the help guys!