Summary: I bought this receiver to replace my stereo only Yamaha RX-397 driving a pair of Paradigm Atom Monitor V5. I was surprised after reading all the positive reviews re the NR-1403 at how unimpressed I was with my initial listen. Even after running the Audyssey calibration the music was flat and bright. I like everything else about this receiver but I can't accept its lack luster fidelity. Its going back.
Summary: To provide some background I've been an audiophile since my late teens and sold high end audio in the 70's. I bought this receiver along with a pair of PSB 5's, C4, and Infinity PS38 with the Samsung BD-F7600 Blue-Ray. This was for a vacation home and my original intent was to have decent 2-channel stereo for CD's but thought it would be nice to enhance the dialogue on our Panasonic plasma panel for movies and HD broadcast.
Pros: Easy to set up, nice form factor, lots of adjustment and functionality for the price.
Cons: Not for someone looking for good quality 2-channel reproduction from CD's even in "Pure-Direct".