I think your friend has some valid points if you're comparing them to modern multi-thousand dollar systems, but I still wouldn't be surprised if some of those old recievers sound better than some of the stuff out there. The main thing your friend didn't consider is the fact that you can purchase a top of the line, monster reciever from the late 70s (units that cost about $1000 at the time) for less than $200...sometimes much less. I think it'd be pretty hard to buy a modern system (amp, pre, and tuner) and beat it for less than $1000, and many of the new $1000+ receivers still can't compare. Today's mass-market consumer audio gear is a complete joke in comparison. I have an old Luxman system from the 70s (M2000 amp, C1010 pre, and T-110 tuner)...it's sounds nice(perfect for a bedroom, office, second system, etc), it's built like a tank, it's extremely flexible, it hasn't been hard to repair, and the tuner is still world class (and it doesn't ever shift from the signal). I wonder...did your friend actually do any listening, or was he simply basing his opinion on some technical jargon?? The brands you mentioned were great...as were Onkyo, Luxman, and Yamaha. It is a good idea to make sure the units are clean, noise free, and in good working condition before buying, but other than that they're definitely worth investigating. If audio is your hobby, I'm sure you've probably spent $150 a lot less wisely in the past.