Best HT 5.1 for movies and music (50/50)?


I've got an older Pioneer VSX-1120k routed to 3 Kef LS50s across the front and a PSA 1500 sub.  I'm quite happy with it.  I'm getting more into vinyl these days and I'm interested in upgrading to something higher quality, both in music presentation and HT processing.  What would you recommend?  

Things I need:
5 or so HDMI
.2 (I'll likely go with dual subs eventually)
better bass management / DSP
analog input / bypass (i run in 'pure direct' mode for my analog listening) 
DTS-HD
moar power!  seriously, the Kefs are hungry and I need something 100w+.

Things I don't need:
anything beyond 5 channel theater
latest and greatest dolby standards 
I'm not too crazy about MCACC -- I get wildly different results during calibration.  I finally landed on a good calibration that is a good balance. 

I've read a few things about analog bypass in the newer setups (meaning that it doesn't go though the DSP of the amp).  I'm interested in trying this as I don't think I have a choice on the pioneer.  There is always some lite DSP happening.  

Thoughts?

Convert?fit=crop&h=128&rotate=exif&w=128martinman
Try the Emotiva XMC-1 pre-processor.  Excellent for both home theater and stereo music.  5 years warranty and 30 day in-home trial.  On sale now for $500 off the $2495 price...

http://emotiva.com/products/pres-and-pros/xmc-1
Thanks rlwainwright - I appreciate your suggestion.  I'm on the fence about Emotiva stuff.  I get the ID value prop (it's one of the reasons I went with PSA), but i think for my usage it would be overkill.  They don't have a middle of the road offering - 2k for a pre is a little much atm.  
Martinman,

I've had only 2-channel systems from high-end to budget system in the past and just purchased my first modern HT system. After a lot of research and deliberation I choose the Yamaha rxs740 Aventage avr. It is their entry level Aventage 7.2 yet uses all discrete electronics in the amp section. It has the ability to configure 2 surround channels for the front L/R to bi-amp the L/R channels in a 5.2 system. Very impressive.

Along with it I purchased their bds677 bluray/sacd player for music and movies. It is reported to have even better sound quality than its excellent video performance.

The sound is everything I was hoping for and more. The system is so revealing it is easy to hear the improvement in sound stepping up from CDs to HDCDs to SACDs. Sound is very involving which I thought was not possible w/ an AVR and Bluray/SACD player. I think I'm a convert to surround sound, though I only am using a 3.0 system currently. BTW, movie sound is staggeringly convincing and powerful too.
HT and 2 channel are two different animals that benefit from having gear designed specifically for that task. Do some research into home theater pass through and consider an integrated with this feature coupled with a HT receiver.