The Arcam AVR100 made the midrange Yamaha and Denon receivers sound simply awful. Sure, you give up the 6.1 and component switching, etc, but the difference in music performance is so dramatic your ratio of music to HT will change by the day. The Arcam also created a more intimate and engaging presentation in 5.1 as well. If you can spring for the AVR200, you get 5 digital inputs, a learning remote and DPL2.
M22s all the way around is kind of a waste, unless you plan on amassing a DVD-A or SACD collection. And yes, Axiom speakers will make a HUGE difference in your setup. Remember that there's a ton of value in Axioms, and a $400 pair of M22s is about equivalent to an $800 Paradigm or Klipsch speaker. I had the old "theater-in-a-box" thing to start, and the difference was night and day.
