HDMI features
HDMI switching allows 1 or the two HDMI inputs to be connected you your display via the receivers HDMI output. Your 605 will also process audio via HDMI.
The 705 and 805 video upscalling take a 480i or 480p video input and scale it to 720p, 1080i, (or 1080p?). This feature is only an advantage if the scaling is better than your display or other components. The higher end 875 and 905 models include a good video scaller.
If you want to take full advantade of a new display, get a nice upscalling DVD player (oppo digital) or BluRay player.