I'm no fan of receivers but I was very surprised and impressed by a recent audition of the Arcam AVR300 - this thing is the real deal, excellent sound for music or movies and all the latest processing modes. The box isn't tiny, but it's much smaller than some receivers, and it's ONE box.
I still have my beloved 2 channel system (Cary 303/Herron preamp and monoblocks/AlonVs) for stereo listening, BTW. But this gear has totally spoiled me for most HT gear, especially receivers. In fact, I've been unimpressed by my listening experiences all HT receivers up til now, even with movies. Much to my surprise, I really enjoyed the AVR300 and thought it was outstanding on both music and movies. I liked it better than several much more expensive sets of separates at the dealers.
The ACR 300 is a seriously engineered piece. All the lastest bells and whistles. I'm buying one for our HT system. Check it out.