Welcome, Craig.

I think you will really enjoy that setup, and I like your plan.

+1 to what JohnK and Nick said.

Unless you need the features (processing, switching, etc.) I'm not sure you're going to HEAR a lot of difference between the HK240 and a newer model receiver. I do think the Onkyo 709 is a marvelous bargain, though, especially when bought as a refurb from shoponkyo or accessories4less. Definitely get the sub first.

bibere usque ad hilaritatem