Hawk, video upconversion means that the receiver converts multiple video inputs so that they can use just one output cable to the TV. For example, many will upconvert a composite video input to S-video so that only a S-video output cable to the TV would be necessary. A few receivers will upconvert both composite and S-video inputs to a component video output. Note that this doesn't mean that the quality is increased, just that only one type of output cable to the TV has to be used.

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Enjoy the music, not the equipment.