I'm looking to purchase a surround sound receiver in the $350 - $450
price range.

I had about settled on a Denon 1804 which is being being sold by my
local AV store for $450 (MSRP $499).

The sales guy then recommends I consider a certified factory
reconditioned Pioneer Elite VSX-43TX (last years model) which they are
selling for $500 (MSRP $1,200).

What do you think?