If you are a huge fan of Yamaha DSP's (as I am) then I would say get the RX-V1.
If you have no interest in these DSP's, the Onkyo has newer and better features. Power rating are also close - with a slight edge to Onkyo. Coolest Onkyo features: Digital Upsampling for CD music and Upgradeable to DPL2. If you're buying new, try to get a V2 with the DPL2 included.
I'm a big fan of Yamaha, but for the price, I'd grab the Onkyo. It's a lot more versatile and quite frankly, the RX-V1 is an aging model. There's supposed to be a new model replacing the RX-V1 (RX-V100???) that has DPLII and Neo:6. But I don't believe that new model will be software-upgradable like the TX-DS989.
Why these so and so vrs so and so threads that just seem start commments that make some of us feel we have inferior equipment. Some always feel one is so much better than the other and so on... and on... and on....
Just listen to whatever you're interested in and buy what you like. There are several in those price ranges worth listening to and will have the features that will please you the most.
I have the 989 and could not be any happier. It sounds great, is upgradeable, and has a very good remote too. I also picked it up from and authorized B&M store for $2160 new in September (they matched an internet quote from an unauthorized outlet!). So for the money I couldn't lose.
I think the Yamaha is great. I also think the Onkyo is great. I was sold on the Rotel RSX-1065 until I saw one opened up. I no longer can justify that product. The Yamaha is an excellent build, although aging the RX-V1 is still top notch. The 989 is great build and newer. I may just go with one of the lesser Onkyos or Yamahas and wait for the new 999 or RX-Z1. I know they are both great. And for Rich B. is the new Yam going to be upgradable?
Scott:
RX-Z1 upgradeable?
I do not know, but knowing the company's track record, I would guess not.
Here is a link to some info on it: Link Removed
Rich B.