I also got a 703 a couple of months ago.
Great receiver - plenty of configuration options and plenty of power - m60(2), VP150, QS8(2), EP500, and two 4Ohm Klipsch 2.0 for rears. And I have a huge room - 16x28x9. At the receiver volume at -10dB the sound level is 90dB and that's as much as can stand. And there is still lots of headroom.
On the last page of the manual there are power ratings. The same model rated differently in different countries. But not because of the actual differences in the model but rather because of different standards and specs for measurements - broad bandwidth or single tone, rms or maximum, etc...
USA - 100W + 100W (8Ohm, 20Hz-20kHz)
Europe 140W+140Q (6Ohm, 1kHz)
Japan 160W+160W (6Ohm, 1kHz)
I also read the Onkyo is very conservative with their specs.
