Did you compare the 990 to the AVR300 using the pre/outs and the same amp? I'm not surprised that the separates combo would beat the receiver, given the limitations of a combined unit. If you don't have an amp already and you have a $2000 target, it would be very hard to find an option better than the Outlaw combo. If you have an amp, or a slightly higher budget, the Arcam AVP700 would be more of an apples-to-apples comparison (pre/pro to pre/pro).

I think the success of the Arcam AV8 and AVP700, and the release of the AV9 shows that they sure didn't abandon separates based on their market research. If anything, the recent development of lower priced separates options makes a reciever like the AVR300 harder to justify. If they are priced similarly, it's an uphill battle for any receiver to beat out quality separates.

Chris