Sure. I use the old 110, 4 years strong. Does 5.1 only, but so what.
I've used it with NHT, Infinity and Athena, all to good effect.
Wish list = Selectable crossover ( I'm locked at 100, would prefer 80), video up conversion to component (now I run everything S-video, so I'm not using the component on my DVD. Again, so what, really, the pic is just fine.)
I have never needed any more power than the 40*5 I have now, fact.
HK's are great, but $400 Cdn is about 326 US, right? I don't know how it is out there, but for about $326 US you can grab a 135 for about 3 bills or a 225 (for $349). Also, and this is my bias, a great receiver like an HK, even their entry level machines, I think deserve to be paired with bookshelf or floor standing speakers- unless it's absolutely necessary to have satellites. I just don't think you will get the full body of warmth (so to speak) from the mids with satellites. If I had to use satellites, I would actually get a less expensive machine, unless I knew that I was going to upgrade my speakers in the near future. This is just my opinion, but I think you should think about it. Good luck!
AS-B1 x 3...NHT Zero's round back, and an SVS. That combo was better than what I have now, by a slim margin. Cleaner, brighter and more sparkle. These Alphas are warm sounding, not bad, but I like just a bit of that extended sparkle. I get it with my old Altecs now...
I paid $318 US 4 yrs ago shipped. Now I'd hold out for a refurb from Harmanaudio.com $200-ish. Of course that's south of the border, and I understand HK's Canadian pricing is a bit high.