Bought this from woot last time around - very good receiver.
First, this receiver *does* have a graphical on-screen display (OSD) for the audio level (at least when using the remote) - it displays in .5 dbA increments (if you don't know what that means, you could say that each step is only barely perceptibly louder than the previous).
It has 4 HDMI inputs, 3 Composite AV inputs, one optical digital sound, and one composite digital sound. ALL of these can be reprogrammed and mapped to any of the 6 extra buttons on the remote - GAME (HDMI only), Sat/Cbl, BD, DVD, V. Aux, Dock.
As mentioned, it does not convert analog sources to the HDMI output. It *does* display the OSD on both analog and digital out (only one is an actual overlay, though).
Though it lacks auto-setup - it has a very fine level of control. For each speaker you can define how far away it is so you don't get weird doppler shifting on the sound. You can also make individual speakers louder or quieter. You can fix audio-video delay delay either per-input, or with a temporary setting via the remote (we have a local over the air station that broadcasts about half of their programs with about 150 milliseconds of audio delay - this fixes that!).
You can program one of the digital audio inputs to serve for TV viewing so it won't output video but plays audio from the TV while using it.
If you don't have speakers, you can program any of the digital inputs to send their audio to the TV and use its speakers instead.
Ten years ago this receiver would have had a quality analog audio path and cost about $800 on the street. It really is a great deal and nice piece of kit for $150.
I see a Roku 2 in my immediate future to handle internet / LAN streaming. Or you could get networked BD player...