Help a broke student get a decent receiver set up

[ngkf7]

I have a nice big TV and a PS3 that I use to play my blus. Sooner or later I'm going to want to spend on a receiver and speakers to get by for the next few years. Unfortunately, I'm a student with little income but some pocket change to throw around (my 56'' TV isn't 4 months old). That being said, I'm looking for a decent system to just enjoy in my apartment. I don't want a crazy theater room system, just one that I can go all in (speakers + receiver) for no more than $550. I also don't care if it's 5.1 vs. 7.1, because the room I have the TV in will not be given an extra boost from 2 extra speakers. Three in the front and two in the back are plenty.

If we can keep it below $500 even better, because I still have to get wire and shelving. Right now I have been eyeing the Yamaha RX-V465BL for $329.99 and the Yamaha NS-SP1800BL (5.1 speaker set) for $133 (both through Amazon) so the final price would be about $463 with free shipping. I'm not too familiar with how decoding works, so some general explanation on that would help (although I realize the PS3 does do the decoding so this receiver could just pass through).

Thanks in advance for the recommendations!