Decoding the new H/D formats

The feature you're looking for is simply the ability to decode Dolby True HD and/or DTS-HD Master Audio. As Plato indicates, the Onkyo's from the 605 up decode these formats, as do the newer Denons to name two brands. You also need to make sure the Blu-ray player you purchase has the ability to send the HD audio formats to the receiver via bitsteam/HDMI. I use the Panasonic BD30 player, which will bitstream the aforementioned formats and, IMHO, offers the best value/features/functionality of the current standalone players.

Plato said it. Look for a receiver that states in its specs that it can handle all the latest options for sound. Also that it can handle a 1080p video signal as well.

I guess it would need to be able to decode the new formats, which I believe are: Dolby Digital Plus, Dolby TrueHD Neural Surround, and DTS-HD. I think my Onkyo TX-SR605 does all of those. It tends to run hot, so I put a little fan on top of it to keep it cool now that the weather is warming up here in AZ. My personal feeling is that it shouldn't run as hot as it apparently does, especially considering my speakers are easy to drive.

That said, it does sound fantastic -- much better than my older Sherwood 5.1 receiver (especially in the bass and treble) even on regular Dolby Digital 5.1. And I get high-quality multi-channel surround sound from regular 2-channel sources.