The FAPT1 is based on the Model 950 platform, although they did add an extra component input and may have beefed up some of the analog section components (after all, it retailed for a bit more than three times what the 950 sold for, and the front panel LCD alone wouldn't justify all that).

The FAPT1 and 950 used the Cirrus 49300 processor. As a result, there are a few features missing: Pro Logic IIx, AV sync adjustment, and individual speaker distance settings come immediately to mind. Also, it uses a triple crossover rather than the quad crossover offered by the 970 and 990. Component video switching is purely switching - no transcoding of s-video and composite video sources to component, and no OSD on component. Having said all that, if it is still under warranty I'd say that $500 is a pretty decent deal. You might also check to see what used 950's are going for on Audiogon as well, though - might be another opportunity for a big surround processor value.