They have a T765 for $899 and a T775 for $1399. I believe this is the same price a refurb unit would be.
You are correct about refurb price for the first, but Spearit shows a much higher price on the T775.
http://www.spearitsound.com/nad/nadspec.htm?gclid=CL3w8LfOmKECFRhqgwodxl9vpw
I know NAD has a largely bulletproof rep,
Actually, they don't. In fact, some people would argue the opposite.
I do like that the NAD units can be upgraded with modules. that would probably allow me to put off upgrading for some time.
I have also heard that they are very expensive. I can't say for certain, but I don't think they are very quick to produce new modules, either. I forgot what I asked, when I sent an email query to NAD a couple of years ago, but they said, "nope, no plans".
My nutshell: NAD, very good with amplifiers, but might be iffy with anything else.
Which leads me to think, find a receiver of choice, just make sure it has preouts, and if you ever want to add an amp, you can then add a NAD, or other brand of choice.
*What is interesting about the T775 is that it sports a third Audyssey curve, the NAD/Paul Barton curve. I have read that it allows for more natural HF rolloff at the LP, and that while it still smooths the bass response, it still allows more room gain. Of course, you still get the Flat and Audyssey curves, that you would get with Denon or Onkyo. I don't know about Marantz, because they don't use the XT version of MultEq.
I am under the impression that the T765 doesn't sport this. The higher end stuff does, like the T175 pre/pro or T785.
OK, I looked at the Audyssey site, the T765 doesn't even have MultEQ, let alone the XT version. Therefore, IMO, T775 >>>> T765.
The T785 and T175 get you Dynamic Volume and EQ to boot. If there is an upgrade module for the T775 for these things, my guess is $$$$.