Found this in avsforum:
My VSX-816 is about two years old also and both surround speakers started cutting in and out. I could wiggle the speaker posts, or slap the side of the unit and they would come on again for awhile.
Like DNCB, I tried resoldering the speaker terminal posts with no luck.
One day, I opened it up again and connected a couple speakers and a dvd player to it. I started poking around with a wooden stick.
I found there are four little black relays located right under the CVS input module. When I wiggled one of them, I could reproduce the problem.
I had to remove about 35 screws in order to access the bottom of the main board, and touch up the solder joints on all of these relays (6 joints on each relay).
I didn't disconnect any ribbon cables, I just carefully laid all the boards over and out of the way.
After reassembly, the unit has been working perfectly ever since.
I'll start checking a separate amp, but since my receiver does not have HDMI and new sound format support (DTS HD, True HD) i might shop for a new one. This would be useful for future.