Since you say you need separates I suggest you might try an amp first. Here and other forums indicate the amp may make the bigger difference in sound quality and loudness.

I have a Denon 3805 receiver and am pleased with it. I have M200 monos on order to see if they make a difference. I have Axiom M80ti 4 ohm speakers rated at 92 and 400 watts.

Check the amplifier feedback sections for more on amplifier benefits.

If you are updating your receiver for newer features, then look for the features you want. If they are on a receiver, buy the receiver. If a pre/pro then but it.

I like the features on my 3805, but I could have bought a 2805 with the same features and used an amp for power. That's what I would do today. Buy a mid grade receiver (3-500.00 refurbed) and an amp 1-2000.00. As features change, I can upgrade pre/pro/receiver later.

Seperates are considered to have better sound because amps are high power devices and preamps are not. By seperating the power supplies and circuitry of both requirements you are supposed to get less interference and distortion. In reality a good receiver can have just as low or better distortion than a amp/pre-amp combo. So it would be hard to say the 990 has better sound than the Harmon Kardon.

In my opinion if comparing a pre-amp to a high quality receiver the "better" sound you get from separates is due to the fact that dedicated amps have more power than those built into receivers. Even THX Ultra receivers (about $4,000) are rated at 130 or 170 Watts and these ratings are NOT all channels driven simultaneously. So you are probably only getting about 70 watts per channel all driven. The cheapest outlaw amp can do 100 watts all channels driven simultaneously. Get that amp and the 990 and you are in the low 2k range, well under the range of high end receivers and with much more power and flexiblity. And plenty of power gives you plenty of volume without reaching clipping or distortion levels. Even if you dont play with a lot of volume a sudden loud sound from a movie (like an explosion) can temporarily put your receiver at distortion levels or cause clipping.

Another advantage of separates is the ability to upgrade only your pre-amp instead of the whole setup.

Receivers have the advantage of not requiring interconnects between amp and pre-amp and usually having the latest features before they reach the pre-amp world.

Bugbitten makes a good point. If your reciever has pre outs you can get an amp and see what type of improvements you get. It should be noticeable.

In terms of the 990 sounding better than the 950 some people claim it sounds slightly "warmer" or more "musical". I believe they sound the same. And even if there is a "slight" difference that some people can notice it is not the "that much more" you are referring to. It is my opinion that if you are going to upgrade your 950 you will probably want to do it for the features.

My Denon literature says 120WPC all channels equal power. Is that not the same?

What Denon does, like most receivers, is list what all the channels are capable of seperately as they don't say driven at the same time. The Denon 3805 (just guessing that is what you have since they list it a 120WPC) puts out about 77WPC with all channels driven simultaneously.

That is all channels capable of producing 120W, but it doesn't say 120W with all channels driven to that level at the same time.

I will be suprised if you don't hear a difference. I had Axioms and 3805 too and they really came to life with the addition of separate amps.

Got one amp today so I will try center speaker test.

Posted my thoughts at "200 feedback"

Somehow I knew you would say that!
Wait till you hear the M80's

More is better!