Newbie here weighing in on an old thread.
Havingy recently aquired an XR45 for $440 AUD (no remote.... but i "learnt" near all the commands of a different model instore)
I was looking for an upgrade from my Denon 1602 in pure sound quality (don't need video switching etc).
I home demoed a Arcam AVR300 and Denon 3805 and never really impressed me with improvment........ esp given the "street" price of $3000 and $2200 respectively.
Reading both audiocircle and various other forums i stumbled on the Panny.
I took the plunge and purchased one! Best decision irrelivant of the 15% and 20% "relative" cost vs my first demoed options!!
Where i "worked" at picking up improvements on the Arcam and 3805 they have jumped out and smacked me in the face with the little panny.
If going from say the 1602 to 3805/Arcam is a "step" for man...... going to the panny is a giant leap for man kind

hehe
Noise Floor, Resolution/Detail, Sound Stage, Dyanaimcs, Attack, Transients, Bass (impact/speed) make the Arcam AVR300 and my Denon+3805 sound just plan borring and lacking.
i have heard other higher end systems extensively..... mate has 2 configs...... 1 a Music Fidelity integrated 2ch pushing pair of Lehhans.... 2nd pair of Quad ESLs with naim CD, conrad johnston pre and power valve setup...... both very nice.
My setup with the panny is:
XR45 (obviously)
Quad 12L's - Nordost Solar Wind Bi-Wired
Quad Centre
Wharfdale rears
HSU VTF2 - behringer FBD tuned
Source is HTPC using ASIO and Maudio Revolution 5.1 SPDIF coax
There is "truth" to the burn in theory on the pannys.
While i guess it depends at what "level" on currently is.... compared to any other reciever i have heard.... esp in 2ch the Panny cleans up.
Compared to reasonable 2ch gear it certainly holds its own........ i will no more when i take to mates to compare vs Music Fidelity gear and Conrad gear (obviously different "sounds" but will be interesting)
I am also considering some mods to the unit which apparnetly gives improvement.
At present im "trialing" a Eichmann Exprees 75ohm bullett Plug ended digital coax. Being a bit "seceptical" on this to my suprised there is difference. My other cable is a home brew 75ohm Quad Sheilded RG6 coax with gold RCA's..... not sure which i prefer yet. ONes $120... the other $12

hehe