I'm looking to upgrade to a new Pro Logic II receiver and am undecided
between the Denon AVR-1603 or the Yamaha HTR-5550. I can get both for
the same price of $400 CAN. I haven't been able to compare the two
yet as they are sold by separate dealers where I'm from. Just wanted
to get the audiophile's opinion on this one. Thanks!

An audiophile would spend the $400 on a better stereo amp and actually get
decent tone.