I've owned a 1050 for three years and recently purchased a Yamaha rx-v657. I've always loved the 1050, but I needed component switching and wanted newer DSP formats. I had read a number of very good reviews on the rx-v657 and was looking forward to trying it out.
I arrived on Monday and I let it burn in a few days. The sound at first was lighter than the 1050, and it improved a bit. The bass is firm and taught, punchy even, but you can tell that the 95 watt rating is quite overstated. The amp section isn't as dynamic as the 1050, and there simply isn't any low end below 50Hz. The treble is very sweet, and the upper mid is refined and open. I found that the Yamaha drove 2 channels much better than the Outlaw, but with all channels driven, the outlaw was far superior.
I was pretty upset that the Yamaha didn't sound better than the Outlaw and felt like an idiot for a few days. Then I tried an experiment. I setup the Yamaha as a processor, and the Outlaw as a power amp, sending the 5.1 output via the Yamaha pre-out to the 5.1 input on the outlaw and setting the amp to Direct. It took a little while to get all the cables connected correctly, but the sound is absolutely fantastic. It has the Outlaw's deep low end, high current, and multi-channel dynamics, with the Yamaha's terrific DSP processing modes, sweet treble, and beautifully clear midband and upper bass.
As a preamp/processor, the Yamaha is brilliantly conceived. And as a power amp, so is the 1050. Which makes sense, because mainstream manufacturers always skimp on the amp section of a receiver and focus on the processing - which is what sells receivers in Best Buy, Circuit City, etc. Conversely, Outlaw clear spent their money on the amp in the 1050 and the DSP modes are restrained, even by the standards of 2000, when the receiver was made. But put these two together and you have a fantastic separates setup at bargain prices.
If you still have your 1050, keep it. Go and buy, or just audition, an rx-v657 as a pre/processor. The combination is a nearly perfect balance, at least in my home.
Now I just have to buy a larger AV rack to hold all these big boxes...