Newbie Question on Arcam

Hello all. First off, I have been reading this website as I do research to buy my first system and thanks for all of the great information!

I am buying a pair of B&W BM8s and am trying to figure out which receiver to buy. I want the receiver to be good for listening to audio, but also do surround sound (video switching, etc.).

My research has led me to the Arcam AVR350 and AVR400. I have listened to these vs. some higher-end Denon, Pioneer and Marantz gear and I believe they do sound better. I have read about the quality issues with Arcam (and the importance of buying from an authorized dealer so the warranty remains intact), but I am curious if there are any other watch outs I should be aware of or other gear I should be looking at.

Additionally, on this forum I have read about the benefits of buying good component power amps and a separate pre-amp / surround processor (so when newer technology comes out you only replace the pre-amp vs. an integrated receiver). I was wondering if anyone could recommend any of these combinations that would be comparable in price range and quality to the Arcam gear (so $1700-$2500).

Thanks in advance for your time and advice!
Sorry... My original post should read CM8s and Arcam AVR360. Thanks
If you can hold out for a whole, probably 6 months, Emotiva will be releasing the XMC-1 pre-processor. COuple that with a good-quality multi-channel amp and you will have a system that will trounce the Arcam and every other receiver out there...

Thanks. I have been researching pairing a Umc-1 with a xpa-3 or Xpa-5 as my initial focus will be audio. I will have a center channel for the occasional movie. Later i would buy the surrounds and eventually use the 40% off upgrade voucher for the new processor). I have read alot of reviews on the Umc-1 and understand the initial issues (that were for the most part resolved). Most of the reviews focus on the UMC-1 as an HT processor. Do you have any experience on how it is for audio vs. the arcam gear. I think my use will be 70% audio, 30% video. Thanks again for your time and help.
What I've read from other online users, Emotiva gears tend to be a bit too bright. Is that true?
I have owned a few pieces of Arcam gear and can't say I would recommend it for the very reasons you have stated, especially not used. I have had much better luck with Rotel and Anthem when used with my B&W 804, and 805s speakers.
Why have you ruled out AVRs by Pioneer, onkyo, Sony and Denon? I have owned AVRs from all of the above and prefer them all to Arcam.