I would choose the Pany 45 over any other receiver bar none, if precise resolution from a digital source is your goal.
All others are very colored in comparison, and using a Pany receiver is a cheap way to hear something that is not colored for reference.
I just sent two of these 45's off to be fully modified at Reference Audio Mods East, and I will be using them in a 2-6 channel bi amped dual receiver configuration.
I also have owned the B&K 202,and most recently was using a Parasound halo c2 pre/pro whith a Legacy (Coda) 5 x 250 amp.
Thats 8k worth of H/T gear that was not as revealing as a single 45.
The higher priced combo had slam, and headroom to spare, and possibly better perceived midrange.
What to do...well I snatched a second 45 and daisy chained them together whith the digital out.
Most of the slam and headroom are back, the bass response is much improved, and the exacting highs are smoother also.
I no longer miss my old combo, except for its great non digitised analog ins for hi rez.
When I get my modified 45's back, I will be comparing to my modified Sim I-5 for analog use.
My all Scan Speak speakers whith revelators are all(5) 6 ohm 88db and sync well whith the stock 45's, using two improved matters greatly, and I am thinking nirvana for two modded 45's.
At least thats the plan.
The 45 falls way short of hi end whith analog sources stock imo, but with digital, its an amazing bargain.