I have on HD H10 DBS from Directv with one HDMI out and I have a AE700u with one HDMI input, but as others have said, as soon as the format wars for HD settle down, I see a need for switcher with three or four HDMI inputs.
I am of the opinion that it is more cost effective to buy a switcher than using your AV receiver with the constantly changing HDMI spec.
Does your device take software updates via USB or RS232?