Not really thought about a budget, I guess as ittle as possible. Thanks for the information.
After talking to a few people, it appears I could get away with (2) component in's and (1) component out. And I could simply connect the Wii into the Composite since it is not viewable in 1080p anyway... Does this sound right?
And what does 5.1 and 7.1 actually mean? Is that the amount of speakers you can use or the amount of different components you can have hooked to the av receiver?
5.1 means 5 main speakers (2 front, 1 center, 2 surround) plus 1 subwoofer. 7.1 means the same plus rear surround speakers. It's not mandatory that you use 5 main speakers, or even a subwoofer. However, it would be really hard to find a stereo receiver with enough video inputs, switching and any up-conversion.
You can connect the Wii to the composite input but most brands didn't do any up-conversion from that to component until a couple of years ago. The AVR-987 I mentioned doesn't, but you can run a single coax with RCA connectors to the TV for that. Don't bother with ebay for this model- none of the 987 are available now and the asking prices for the 988, 989 and 990 are too high. However, if you can find an AVR-987 that's in good condition, for a good price (less than $500), it's a good receiver and will do what you want.