Virtually any current receiver will "meet your needs" as far as sound goes.
As for video, unless you tell me otherwise, I'll assume you have component (red/blue/green) inputs. I don't think any current receiver will up-convert to component, only HDMI.
Thanks to current regulations, all current source hardware is limited to 480p, which is what a DVD is capable of. So, the best resolution your TV can do with current sources is 480p, not HD. HD kicks in at 720.
So, you can feed your audio to your receiver and get the best you can get sound-wise. At worst, you can feed your source video to your TV and get 480p and do your selection there.
If you can find a receiver that outputs component video, you'll get your 480p picture and video switching. You may have to search the spec sheets carefully to fine one that does this. Don't expect HD quality, that's limited by the component video path, but it certainly beats (yellow plug) composite video.
Component video is, unfortunately, dead and HDMI rules. I don't like that. There's no technical reason it can't do HD (it used to), but the law-makers have deemed it so.