The 3312 has a XTalk of -77.4db, SNR -108.68, THD 0.005%.
Denin 4310:
Response from the multichannel input to the speaker output measures –0.51 decibels at 10 hertz, –0.14 dB at 20 Hz, –0.04 dB at 20 kilohertz, and –2.72 dB at 50 kHz. THD+N from the CD input to the speaker output was less than 0.005% at 1 kHz when driving 2.83 volts into an 8-ohm load. Crosstalk at 1 kHz driving 2.83 volts into an 8-ohm load was –89.37 dB left to right and –87.47 dB right to left. The signal-to-noise ratio with 2.83 volts driving an 8-ohm load from 10 Hz to 24 kHz with “A” weighting was –112.28 dBrA.
Denon AVR-4310CI A/V Receiver HT Labs Measures | Home Theater
So I don't see how the 4311 would have worse measurements than 3312.