Do I need to upgrade my receiver?

Well....what source components are you using (CDP, etc)? How is the system sounding to you? What do you like, or not like about it?

I changed electronics quite a bit before I changed speakers and noticed a larger difference with upgrading speakers. If you are unhappy with your system I would recommend upgrading speakers first. If you are happy with your sound, don't change a thing.

Hi Prm

Welcome to the audio world! Sounds like you've done a great job assembling your (first?) system! You have all your speakers matched and with 2 subs you should be getting some nice, even bass in your room. Yamaha receivers are generally quality choices and sound great. I believe that the Yamaha is a fairly new receiver with HDMI. From what I see I think you have a well-matched system to start with.

My suggestion is that you focus on the proper placement of your speakers in the room and then going through any room correction or calibration in the receiver. Above all, have fun and enjoy the music and movies.