Check out a used Classe SSP-300 (if you only need single-ended) or SSP-600 (if you have balanced inputs and/or outputs). The sound on this processor is amazing. Have you considered upgrading your TV first to get 720p/1080i/1080p input capabilities via component, DVI-D and/or HDMI? It seems like staying with a monitor that only allows S-Video and Composite and upgrading sound-only may be a path worth considering alternatives for...my 2 cents. The SSP-300 and SSP-600 have all the video transcoding you would want for your current setup (no HDMI). The new SSP-800 (not available used as yet) has even more for the future. I've owned the SSP-600 and loving the units video passthrough and both HT and balanced bypass audio quality very much.
Help to upgrade my surround processor
Here's the short version. I have a TV with composite and S-video inputs only. I also have an old (at least 15 years) Onkyo ED-301 Dolby Digital SP. I only watch a movie a week. My sources are DVD and Laser. I can't change my TV as yet, so the S-Video is OK. But I imagine the chip in my unit (motorola 24 bit dsp 56009) is basically a dinosaur. How can I get some better sound and upgrade? I imagine I just can't upgrade my chip. Sound is my primary consideration. My problem is that I hate to buy an Anthem AVM 20 which is a 8-9 year old unit and the newer Anthems are too pricey. Does the v2 2.21 upgrade sound good enough compared to today's chips? Otherwise Rotel, Sherwood, Outlaw or maybe a Cary 6? Thanks in advance for any help.