Another to look at is the Onkyo 805. This one has Audyssey Multi EQ XT, of which I have become a huge fan of. It will have at least 8x the resolution of Multi EQ (such as in the Denon 2308ci or 706), for BOTH the sats and the sub.
I am such a big fan, I'm trying to figure out if its worth implementing in my 2-ch system. The cheapest way would be to buy an HT receiver acting as a pre/pro, but I just wonder about SQ b/w that and my Cambridge integrated. The stand-alone SEQ is something like $2k. You'll never find XT in an integrated/stereo-receiver due to economies of scale.
Do you need XT? You will benefit in a room that is less than ideal acoustically.
OTOH, I might forgo XT if that means for the same money you can get Dynamic Volume, if you listen at moderate volumes with family sleeping.
Me? I have a dedicated HT that sometimes gets close to reference. XT all the way, FTW. And that's after 9 large acoustic panels, and more on the way.
Also, the 805s Ultra rating means it spec'd to handle 3.2 ohm load. Its Its $600 new, but you can buy refurbished like I did. I've seen people land it that way for as low as $425.
-jostenmeat