The volume indicated by the receiver is of little importance.
That is because there is no standard scale used by manufacturers to describe volume. For instance, -20dB on a Yamaha receiver is not the same as -20dB on a Denon. In fact, -20dB on a 100 RMS Watts per channel (sometimes called continuous power rating per channel) rated Yamaha receiver will be different from -20dB on a 130 RMS Watts per channel rated Yamaha receiver.
Now factor in the fact that all speakers (even different models from the same manufacturer) have different sensitivity, and now the volume displayed by the receiver is practically meaningless.
But there is a silver lining to the dark cloud.
Its called calibration. Say you have calibrated your setup, and your receiver's master volume is at -25dB, and each of your speakers and subwoofers independently are sounding 75dB SPL at the listening position when you play the test tones.
Now you watch a movie and keep the master volume at -25dB, you are listening at reference levels. Assuming your setup is capable of faithfully reproducing the peaks (around 105dB SPL for speakers and 115dB SPL for LFE), you are listening at "DD Reference Level".
EDIT: Forgot to metion, these settings pertain to your setup alone. Put your equipment in a larger or smaller room, add an amplifier etc. and the master volume setting on the receiver will be different.
This thread might help.
http://forums.audioholics.com/forums/showthread.php?t=11977