Yes, it has HDMI pass through.
At this price, also consider the Yamaha v373, v471 (better - $199 Newegg), Denon 1612 (accessories4less refurb'd), Pioneer vsx-1022.
As far as sound quality goes, the list usually looks like:
1 & 2 - Yamaha, Denon
3 - Onkyo
4 - Pioneer
1 - Yamaha
2 - Denon
3 - Pioneer
4 - Onkyo
2 - Onkyo
3 & 4 - Pioneer, Denon
Questions to ask yourself:
do you need networking capabilities? Do you need 5.1 or 7.1? Do you want calibration? Do you need 1 or 2 USB ports? Do you need AirPlay? HDMI pass through? Video upscaling?
IMO, the best bet right now is the v471. It has calibration, 5.1 and no frills, great reliability and top notch sound quality. Plus it enhances the quality of compressed audio (mp3), which is essential for me since that's all I own these days.
But if you can demo each receiver, that's your best bet.
Thank you for the input. Does the Yamaha have HDMI pass through and AirPlay? My main issue is I would like to use it with my Apple TV and have really good sound with alot of base for my 3D TV and music through my iphone. 5.1 is enough for me. Is the wattage OK? Is the Yamaha still the best for that?