What are the featues to look for in a new reciever?

[Dieselboy]

I'm thinking of upgrading my older Kenwood amp and I'm curious as to what all I should look for in a new reciever... I obviously know that I want one which supports the newer lossless formats, but besides that what else should I look for in a new reciever? I've heard that the ProLogicII 9.1 thing is sort of a waste as it was impercievable to the ears when utilized. Does the reciever need to support things like a 24fps mode, deep color, and X.Y. color or is that only the TV and Blu Ray player? My budget isn't for sure yet, but I don't see myself spending $800 and up for a reciever if a $400 reciever does everything I want it to do if you see my point. The room is a dedicated HT room that's 13'Wx15'Lx7.5'H in my basement and it's used for movies only, ie no music-

Thanks in advance-