If you are going 80/20 HT, then I bet (warning: fairly uninformed opinion about to proceed) that the Panasonic will work great, except for the caveat in the next paragraph. It's a digital receiver, and you're planning on going using it mainly for digital ends -- in the best way intended. If you were going SACD/DVD-A, which necessitate analog outs, phono, or even primarily music over HT, I'd have reservations about trying a new product category. But I bet you'll be very happy, based on the reviews of the XR45.
Caveat: Bass management. I seem to recall the XR45 had pretty feeble bass management options (apologies to XR45 lovers if I'm wrong here), with variable crossovers starting at 100 Hz and higher. I recall this from several reviews, and also saw this
posting on the audio asylum forum knocking the XR45 for HTIB-quality bass management.
Unless the XR50 has improved bass management, with the ability to set a crossover down below 80 Hz, at least, and to 50, preferably, then I'd pass on it, and spend about the same amount getting a low powered Harmon Kardon, like the AVR-230, or one of the lesser-powered Onkyos ... or even a Yamaha-HTR series. They are heavier, and thicker, and there's a reason. More importantly, they'll deliver better long-term value (and short-term enjoyment with your expensive and great sub) than any receiver without good bass management.
I fully support the XR50 experiment, if the bass management is good. You might not think you need to worry about bass mgt, since you're using small mains, but why saddle yourself, at any price, with a product that can't handle this fundamental of HT, especially when you can get an H/K AVR 230 at
Harmon Kardon Factory Direct for about $300 (or new on etronics for $350)?
You're paying for a good sub, so make sure you can use it flexibly and to its fullest.
Only other thought: It's worth it, if you can shell out $165 more, to get the M22s instead of the M2s, because they will stand you in good stead longer. You'll go from having a well regarded small bookshelf to getting an award-winning large bookshelf -- something you will probably be proud to own for 10-20 years. Costs more now, saves you more down the road.
My .02. Cheers, Bman.
