The loudspeakers make a much bigger difference to the sound. For 5.1 I'd say that receiver is overkill and the money better allocated to better speakers. I do like Denon and have found the Audyssey room correction to smoothen response, I just don't think you need 9 channels and all that. Get a 5.1 Denon and the KEFs it sounds like you want. I would also strongly recommend spending more to step up to a more serious sub, at least 12" woofer and 500+ watts. I'm sure others will chime in with all kinds of specific recommendations...whatever speakers you get, be sure they have an easy return policy. Your ears in your room may dislike even "good" speakers.