I've had one for at least a year now and I really like it. Biggest positives: it's versatile and sounds good with music and especially HT, it has all the modes/decoding you need and more, it has discrete amplification and actually puts out close to the rated power according to Sound & Vision magazine, it feels solid and has been durable, and it has a great learning remote with RF capabilities.
Negatives are no on-screen display, no full set of preouts (you get this along with a few other features in the VR-6070), and not enough component video switching bandwidth to handle HD.
Overall I am very happy with it, and I have used many products from the more popular manufacturers (Yamaha, Denon, Onkyo, HK, etc.) in the past. This receiver has stacked up very favorably, especially considering the price.
Edit: of course, your speakers typically have a lot more to do with the overall sound of your system than the receiver does.