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Re: Looking to spend ~$500 on a Receiver
Matt, a better approach would be to describe your overall budget, what you hope to achieve, why you would like HDMI switching, room size, etc, etc.
Now, more specific to your post, in the sub $500 category with HDMI switching, the pickings are slim. You have already mentioned the Pioneer 1016 and it's lesser sibling, the 816. Personally, I'm not impressed with the unit. HDMI is audio passthrough only, the MCACC feature for room equalization doesn't work as advertised (in my opinion), power rating is questionable.
Another contender in the sub $500 receiver with HDMI switching capabilities, is the Onkyo 674 and 604 receivers. In my opinion, much better. The 674 is capable of decoding audio over HDMI.
The NAD 743 is a fantastic unit but it may not meet your needs. There is no HDMI and it's 5.1 only. However, the power rating is much more honest, in my opinion sounds better and isn't in the same league as the lower end Pioneer and Onkyo.
Also, just like in car audio, speakers will make much more of a difference in sound quality and overall enjoyment of your Home Theater than the electronics will. That's why you need to be honest in what you hope to achieve and distribute your budget accordingly.
Best of luck.
JB
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