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Chris, going up to the 740 will give you a phono input. I think its got a few more watts, and OSD may not be available on the 640. Going beyond the 740 will give you more watts, and in general some better electronics. In my opinion, for the budget conscious if you don't have a turntable, get a...

John look at this comparison available at Yamaha's site. That'll give you a run down on the options. My personal opinion is that you should go no lower than the RX-V640. The RX-V640 is the cheapest with pre-outs for all channels. Thus in the future you could add external amps. This thing is...