The bad news is that none of four new receivers have on-board decoding for the new lossless and other Dolby and DTS codecs. The good news is that modular construction will allow updates for this issue, in perhaps a year, and others that may arise. If you don't plan to buy a Blu-ray or HD DVD player soon, and prize NAD's consistent performance and high value, one of these new kids may be the receiver for you. They include the T 785, shown, $2999; T 775, $2499; T 765, $1999; and T 755, $1299.