I think I'm confused about video processing...

[victimsofadown]

So there are a few recievers I'm looking at (on a very tight budget), and I came accross the Sony STRDG720, which appears to only be about $230! The downside is that there's no video conversion (which to my knowledge basically means that if I put in component, it needs to go component out, Composite in composite out, etc).

This brought up a couple of questions in my mind, so if someone could help me that would be great!

1) Is there any downside to this reciever as long as I have the inputs available on my TV? I know it would be a little effort to change the TV input AND Receiver input, but I doubt $200 difference!

2) When I see a reciever that "upconverts" to 480p, does that mean that if I put my 360 (connected through component) that it will be downgraded to 480p through HDMI?

3) Would I be better off waiting for Pioneer's 2009 modles? I see that the 2 I'm interested in LIST PRICE for either 299 or 399...

THANK YOU!