Marik,
First, I demoed this receiver at a local hi-fi shop and it was hooked up to five 4 ohm speakers at the time. Secondly, I read a bench test on this receiver....I will try to locate the article and supply the URL when I have time.

The following is a copy and paste from NADs website:

"Power Output Stereo Mode 2 x 90W (19.5dBW)
Simultaneous Continuous Output Power into 4/8 Ohms * 5 x 80W (19dBW)

(*Min. power per channel, 20Hz - 20kHz with no more than 0.08% THD rated distortion.)

IHF Dynamic Power 8 Ohms 2 x 150W (21.7dBW)
IHF Dynamic Power 4 Ohms 2 x 200W (23dBW)
IHF Dynamic Power 2 Ohms 2 x 225W (23.5dBW"