I just spent a couple of hours at my local dealer doing A/B comparisons of these two receivers and found some interesting results--at least to me. Before I go any further, let me say that I've never spent any extended amount of time with Yammies before, and was a little biased by the commonly heard refrain that they tend to be overly bright. I've also been seriously thinking of upgrading my receiver to a 2802 or Outlaw 1050--still haven't decided if DPLII and DTS-ES are important enough to me. Test material was Disney's Fantasia 2000, with the DTS soundtrack. Anyway, here's what I found: The 1200 produces a warmer sound, with better bass reproduction--the kind that you can feel in your chest, not the boomy, thumpy kind. Soundstage was also more forward on the 1200, producing a net effect of a sound that reaches out and touches you. I was VERY surprised that the 1200 sounded better in this comparison. However, the Denon seemed to have an exceedingly clear resolution. At one point, I also listened to a HTR-5490, which is supposed to be identical to the RX-V1200 on the inside. Sorry, but the 5490 did not sound nearly as good as the 1200, and I can see where those accusations of "brightness" come from. By the way, during my listening session, volume controls were set to -33 on the Yamahas and -8 on the Denon--very bizarre looking numbers, I know, but that's what the settings were to get similar volumes out of the receivers. If anyone else has done any extended listening to these receivers, I'd love some feedback and comments.