Well, the cheapest receiver I know of with HDMI is the Yamaha RX-V4600, which is $1800 MSRP. Not exactly in your price range. Component video is still awesome quality.
I would be leery buying from an unauthorized dealer, at least for a big electronics purchase like a receiver. You're going to want a warranty on that. I'm also in the same budget class as you. I'm deciding between the Pioneer VSX-1015TX and the Yamaha RX-V657. I can get the Yammie for $450 locally, out the door. But then again, I think my dealer can cut some nice deals. The Pioneer is $430 online at J&R (an authorized dealer) and Best Buy should price match that, or something close.
As far as features and power rating, the Pioneer wins. It has goodies out the butt. The Yamaha is more sparse, and has less power. That said, Yamaha is known for their preamp outputs, which means that when you want to add an amp later on, you won't have any sound quality issues. The Yamaha also has lip sync delay.
I'm kinda leaning toward the Yamaha personally, due to the good price I can get on it (from an authorized dealer), as well as the fact that my dealer has been really good with me so far, so I kinda want to buy stuff from his store. I know there are many satisfied 1015 users though (Spiffyfast for one).