I had no idea on the receiver in that range, so I just said something that was popular

So therefore dont go just off of what I said, but rather search for the onkyo unit and see what others suggest in the threads.
The Ventriloquist certainly looks nice and would be great for HT, but I am not so sure on two-channel performance, but I am sure nothing performs all that well in such a small config.
I would also take a look into getting two bookshelve speakers and a center channel for $550. You would get better music performance, but would be lacking the Sub and the surrounds which may not be a big deal to you. The sound should be more clear from these more expensive units, so youll have to decide whats right for you. In this category you may want to look at the ELT Bookshelve and center channel by
www.av123.com This also opens the door up to many other mfgs. So ...
BTW I am getting the full ELT system with an upgraded sub. they have great support over there at
www.av123.com and If you go for the 3 speakers versus 5 and the sub, then be sure to ask some questions at their forum