Wow, Exertfluffer!! Nobody really wanted to offend you but you are still obviously living the old school theory of receivers vs. separates. The old school being that, yes, receivers WERE a very poor compromise compared to separates. Todays top shelf receivers are a true statement of technology at it's best. AVR Receivers have literally closed the performance gap of even some of the best separates. Although it can be done, it is getting increasingly difficult to find separates that will out-perform a Flagship receiver. Krell? Maybe... but not in my typical room set up. If I'm going to waste my money on separates I'm going to make darn sure that I have a dedicated room to put it all in. It used to be an embarrassment to connect high-end speakers to a receiver. Not any more. Look at how many people have woken up and seen the light and realized that they can get the same performance, sometimes better, without spending thousands on separates.
Do yourself a favor, flip through the recent archives of Audio/Video Interiors. Ever wonder why most of these 1/2 million dollar custom home theaters are using receivers? If you don't maybe you need to ask yourself why. Or, The next time you visit your local "separates" dealer, ask the owner of the store what he has in his own home. You'll be surprised at the answer, again, ask yourself why. Could it be that they know something that you don't? Perhaps they realize that the laws of diminishing returns for separates are absolutely ridiculous.
Ok, time to get the facts straight! The Denon is not $5,000 as you stated, nor is it $4,800 but actually $4,400 NEW. The processing power in the Big Denon is staggering! There are no entry level or even mid level processors that can even come close, processing wise. To repeat what Ryder is saying, these big receivers can and sometimes do outperform some of even the best separates.
Now, I am by no means bashing separates but give credit where credit is due. I'm simply stating that receivers have made incredible strides in the performance/value arena, so much so, that they've become the component of choice for even the most discriminating critic. In the next 5 years you will see pre/pro tecnology take off like never before at prices that will be line with receivers. Why? because receivers give these guys a run for their money. I've stated once before, "Rip out my receiver and install a rack full of Bryston monoblocks and a Lexicon
MC-12 and I doubt very seriously that I would hear a difference in my room".
