This is pretty much pointless, but I feel obligated to ask where the 605 tested over the 354's specs. The 354 is rated 75 Watts per channel @ <0.07% THD (assuming the HK can meet its spec), I see the 605 measured here-
at 80 watts into 7 channels at clipping. Correct me if I am wrong, but if the distortion was scaled back to .07 instead of clipping the watts would drop?
I would expect it may be more similar to the 606 test here-
where with distortion at .1% it's around 72 watts, less than the HK at 75 watts at .07%.
Anyway, this is all just semantics.
I think the question needs to be asked of the OP- why do you need more power exactly? And is it for 2 channel listening, or movies? What kind of speakers do you have?
HK's tend to be more conservative with 2 channels driven, so I agree you will likely get more power from the Onkyo's for 2 channel listening, and you may get more for all channels. However, keep in mind- in order to gain an additional 3 db in volume, you need to double your power. So if you're looking to go louder and are currently pushing around 60 watts, you'll need 120 for 3 more db, 240 for 6 more, etc. So if the Onkyo 706 does 100x7 it may not be much of an audible difference from the HK at 75x7 for movies.
You may be better off adding an amp for more power, depending on what you need exactly, once you get a receiver with the features you need.
If you like HK you have now, you may end up preferring the HK's over Onkyo's, you'll need to listen to them yourself to know for sure though.