Biamping is the technique of using two amps per speaker system. Usually one is connected to the low freqency end of the crossover network and the other to the higher frequencies. Bridging is the process of combining the output power of two amplifiers into a single output.
These techniques are usually a waste of wire and heat. The only time they could provide better sound is if the amplifier is clipping (distorting) because it is over driven. If you have a very large room, very inefficient speakers and play things very loudly, you could be clipping a small amplifier. Normally it isn't an issue.
Buying a 7 channel receiver makes sense if you plan to use it in a surround sound home theater application in the future. Otherwise you would be served just as well with a 2 channel receiver.