I have one that I picked up last week open box at CC on a whim. I'll try to answer any questions you have.
First up, it does generate some noise when cranked up. But so far it's difficult to judge or measure. I did a crude measurement by placing a SPL meter on the center channel, setting the receiver to a digital input but without the input source playing. The volume knob ranges from "0" to "80", I believe the relative units are dB's. At a setting of 70, I was barely getting to the threshold of the meter about 52 dB noise floor. At the maximum setting, I was hearing a hiss of about 57 dB. If anyone has a better way to measure this, let me know. I'd like to know if the Panny's generate any noise.
I find that I do most of my TV and movie listening at a setting of "40 to 45". A setting of "40" for CD audio via DVD generates SPL's of around 70 to 78 dB. I don't think I've exceeded "60" when cranked up for music... it's quite loud at that point. You can do the math.

I don't think I want to exceed 60 for the time being. However I do find that I easily get accustomed to the loud volume settings... if there is any THD at these volume levels, it's not tiresome. I only can notice distortion subtleties if I get close to a front channel and pick apart an instrument. From 10ft away, it's much harder to discern.
I'm running Infinity Primus C25 center, Primus 150 f/r, 12" Primus sub. The receiver's crossover does support 60, 80, 100, 120, and 150 Hz settings.
As far as the amplifier chipset, it's still unknown at this point. It does use the same Cirrus Logic chip as the Panny xr70 for DSP and logic processing. The power board section has rather large caps, twice as much than the XR70. However the torroid filters near the power stage heat sinks are not wound as dense nor as abundant as they are on the Panny. Perhaps this is where the published THD creeps in.
Overall, I think it has a bit of a warm sound to it. For a digital amp, it handles analog inputs quite well. On the digital side, there appears to be abundant headroom for sound effects while watching DVD's and the like. It's quite easy to disassemble sound effects from the clarity of the audio.
Regarding OSD, while a spec on Onkyo's website, it is not mentioned in the manual. I didn't see any OSD when I hooked up the composite monitor output. I think this is a misprint.
I'd love to get a XR70 for comparison, but I don't know of availability with a free 30 day return policy. Although I suspect I'd probably wind up keeping the Panny and returning the Onkyo.

Regards,
JnC