<font color='#000000'>I wouldn’t say more than 5 channels is a waste. I think it really depends on your room. My set up is a 5.1 with the Yamaha 1400 and Boston Acoustic speakers. The way my room is laid out, I really can't go with 6.1 or 7.1. Some larger rooms could really benefit from 6.1 and 7.1. My buddy has a 7.1 set up and it is awesome. Much more enveloping sound. But he has a large dedicated HT room.
Also, remember there are only a handful of 6.1 DVD releases and no 7.1 releases that I know of. 7.1 does not exist other than in terms of speakers. Your receiver "simply" processes the sound to the extra channels (that's a whole other discussion) when in 6.1 or 7.1.
I say, if you have the room and budget, go for 7.1 or at least 6.1. 5.1 is great but 6.1 and 7.1 do add to the experience. If nothing else, you can get the 6.1 or 7.1 receiver so you will always have that option.
Bye the way, I love my RX-X1400. Yamaha makes a fine receiver.
Just my .02 cents,
Shinerman</font>