A friend of mine is looking for a 2-channel receiver in the $200 - 300 range. Do you have any recommendations? Are there any decent receivers in this price range?
I'd look at the stereo receiver options from H/K, Onkyo or Denon. All companies have offerings in the price range being sought.
Finally, since it's for stereo use, you could still find a nice, older home theater receiver and use just the stereo portion. You might find that you'll be able to get some pretty good gear at a great price because someone wanted DPL II or IIx and their receiver didn't perform those functions, so now, they're selling it.
If an FM tuner section isn't a requirement, there is also the option of a stereo integrated amplifier, though your friend may need to increase his/her budget a bit. Audioadvisor.com has the Cambridge Audio 540A for $349, for example.
If musicality and sheer performance are a priority, especially in the price range mentioned, an integrated amp would be my preference by far.
I would second Alex F.'s suggestion. If a tuner is not necessary, then an integrated amp is the way to go (NAD might also be within reach, thought the Cambridge is a nice unit).
Also have to note that many, if not most, integrateds are analog only, so that is a factor as well. If you will be running stereo analog only, an integrated is what I was going to suggest also. That's how I run my bedroom system. Note also that if you will use a sub, some do not have a sub preamp output nor bass management - this has its pros and cons.
Used NAD, Marantz, Cambridge, possibly Rotel, etc... can all be found easily in your price range and will sound better than ANY stereo receiver out there.
I picked up my Marantz PM7000 for $350, but have seen them go used for $275.
Thanks for your imput. I haven't checked yet, but I think my friend will want an FM tuner. I went to a couple of local stores yesterday. One had the Yamaha RX-396 for $300 and another dealer had the Denon DRA-295 for $250.
Both receivers are 50 Watts per channel. Is the Yamaha worth the extra $50? Has anyone had experiences with the FM tuners for Yamaha and Denon? That might be the deciding factor if an FM tuner is important.