When Onkyo announced the TX-SR607, the company made a big deal that it was the first AV receiver to include onboard Dolby Pro Logic IIz processing. Dolby's new format relies on "height" speakers--two satellite speakers situated above the standard front right/left speakers--to create a more "airy" soundscape--or at least that's the idea. We tried our best to enjoy the extra atmospheric effects, but the reality is our ears had a tough time hearing anything beyond placebo effects. But honestly, who cares? The Onkyo TX-SR607 is a great midrange AV receiver without Pro Logic IIz, offering up six HDMI inputs and excellent sound quality at a street price that is already down to $500 online.
If you're looking for more video-centric features like a graphical user interface or high quality analog video upconversion, it may be smart to hold off until the Sony STR-DN1000 and Pioneer VSX-1019AH are released. But if you'd rather maximize your HDMI connectivity and sound quality on a budget, it's tough to beat the TX-SR607.