Reading some reviews here:
Audioreview

Looks like:
1. CAD 400 + taxes is just a "good" price, not that spectacular for a discontinued model.
2. 100x5 really is 50x5, but you would normally expect that with a consumer grade A/V receiver anyways
3. Lots of inputs and outputs and electronic gadgets

I don't know, I see Futureshop has these inexpensive Panasonic or Sony receivers for less than 300, I don't know how they compare, but this one doesn't really look like the deal like your friend made it out to be.

Good luck.