Since this thread has repeatedly touched on what electronics route is best for music pleasure, here's my two cents. There might be some pretty good reasons to buy separates rather than a receiver, whether multi-channel or stereo. And, there may be absolutely no good reason to buy separates. Thing is you don't need a reason. I have a reason for a multi-channel pre/pro and thus that has dictated the structure for other components necessary to enjoy my music and movies. I believe my mid-fi delivers all I can digest, for recording, listening, and watching. As can be seen in this thread, if there is any reason at all to buy one electronic over another it is bass management. The easiest route to bass management would either be an AVR or Pre/pro, not a stereo receiver, or integrated stereo.