Look at the discontinued Yamaha RX-V471. Sound wise it is better than the low priced Denon's in my opinion and I was a huge Denon fan. After doing loads of research on lower priced (sub $400) avr's I tested all of them and the Onkyo's and Yamaha's sounded the best. The Yamaha has an adjustable EQ that actually works and the HDMI output was far superior to the similarly priced Denon. For @ $200 it is not bad, if you need internet connectivity, the newer model (rx-v473) and discontinued (rx-v671) are both stellar compared to budget denon. Budget Denon is a risky proposition IMO. Like budget H-K but without the nice looks.
I reiterate Just my opinion.