Mak,
Welcome to the forum. You are the perfect guinea pig for the recent debates over all channels driven tests.
To start off, don't trust a big box store to try and sell you audio equipment. You are wise to check with this site and ask for advice. You'll get lots of differing opinions, but you'll be able to make a much more informed, wise decision.
Watts mean very little regarding surround sound receivers. There is no comparison between a Yamaha 5890 (or even that matter the 5840) and the Insignia IS-HC04091.
Brands to avoid at Best Buy in my opinion: Sony, Insignia, JVC, and Kenwood. Recommended brands at BB: Pioneer and Yamaha.
Before you go buying a receiver at BB, do you have a set of speakers already? What kind/make/model? That will help tremendously.
There are very reputable online dealers that sell units for a fraction of what you'll spend on low, entry level units at big box stores.
www.jr.com is one.
www.ubid.com is another.
Most of your better units are 7 channels. You may not need all 7 channels, but I've found most 5 and 6 channel "new" units are pretty lousy. They'd probably make a good bedroom/dorm receiver if funds are replacing beer money.
Here's a good example of how you can do better online with your money:
http://www.ubid.com/actn/opn/getpage.asp?AuctionId=10495940
(you should really jump on this if you are serious - perfect price range!)
To get a really nice mid level receiver, I think you'd need to budget around $450. 33lbs is my unofficial guide to a very respectable receiver, that will drive most speakers. Weight is important because your power supply and heat sink make up the bulk of a receiver, and the larger these units, the more power output you'll enjoy. That doesn't mean go out and drip 5 bills on your first unit. It means start out with something decent like that Onkyo 602 above, then upgrade in a few years to something better.
Most of all, have fun searching. This is a great hobby, and we all enjoy talking about it.