I was also waiting for the 1070. However, now that the Denon 4806 is about to be released, with almost all of the features of the 5805, but at an MSRP of "only" $3,500, I think that's the way I'm going to go:
http://www.dba-pr.com/denon2/denon_pr_lineup.html

I just got the Denon 3910 Universal Player, which has HDMI and DVI for video, plus Denon Link and IEEE 1394/iLink/Firewire connections for audio. (All in addition to standard connections, of course.) Denon has already gotten approval to run SACD digital streams over their Denon Link connections for the upcoming SACD 2.0 specification (and are trying to get it approved for the current 1.3 spec'd gear), so no more 5.1 analog connections! Unfortunately, HDMI can carry DVD-Audio, but not SACD, so one cable simplicity for A/V is not currently within reach.

I realize comparing a $1,000 receiver with a $3,500 one isn't quite fair. However, I'm looking to the future... and I think Outlaw missed the boat by delaying the 1070 for so long. With the Denon I'll get DVI/HDMI switching *and* upconversion (all analog video to HDMI), as well as connection simplification. Giddy up! Or should I say, I'll pony up!