Receiver with preouts vs pre/pro

If you already have a separate multichannel amp and want to get a pre/pro with the latest in video and audio capabilities for a budget of around $500, is the best option a good HT receiver with preouts? The dedicated preamp/processors that I've seen seem to start at around $900 with Outlaw's offerings.

For the money, in the $500-ish range, is the best bang for the buck a good HT receiver from Yamaha, Denon, or Onkyo? (And then bypass the internal amplification section.) It seems as though the receivers are less expensive and have more video features and support more of the new HD audio and video.

Are there better alternatives for this price range, or does using the receivers for their preamp + processor sections represent a good value?

Michael