I bought this to replace an Onkyo TR-701. Previously I'd had a 6.1 speaker setup, but having moved to a slightly smaller apartment, I decided that 5.1 would serve me better. After reading many positive reviews of the TX-SR308, I decided it sounded like the perfect receiver for me.
I bought the TR-701 around 5 years ago, and paid 3 times what the TX-SR308 costs. But it's a clear indication of how much the technology has improved that this receiver is a vast improvement on my previous model. Onkyo have packed a ton of features into this model. First, there's the connectivity. There are 3 HDMI 1.4a-compliant (i.e. "3D ready") inputs (which also carry audio), 1 HDMI output, as well as component and composite video I/O, as well as a bunch of analogue and digital audio connectors. That should allow most people to connect several audio and video devices and just use the Onkyo's remote to switch between them. I should also point out that the system won't convert between signals, so you can't output a composite signal through a HDMI cable to your television-- you'll need to have separate outputs for each type of input.
There are lots of different audio processors (DSPs) built-in, though to be honest I don't tend to use them. Onkyo make it fairly easy to calibrate your speakers, and I'd highly recommend going through the process. It basically blasts white noise out of each speaker in turn, and you can increase or decrease the relative volume of the individual speakers until they all appear to be the same volume.
The remote control is fully programmable (although that's a feature I don't have the patience to try out), and the radio works well (and it uses RDS, so the name of the radio station is displayed on the LCD screen).
My only real gripe is that the connectors for the speaker cables are not great, it can be a bit awkward to wire up the speakers (but on the other hand, you'll typically do this once and then forget about it).
Overall, if you don't need features like signal conversion or 6- or 7.1 surround sound, this will probably last for a few years, especially considering the HDMI 1.4a support. Don't be put off by the "entry-level" tag Onkyo have placed on this receiver, it's a great value system that can find a place in almost any home theatre system, and will probably have more features than you'll ever need as it is.
Recently bought this from richer sounds. Its the entry model but i would hardly call it basic. Have it connected to Panasonic plasma viera, PS3, panasonic blu ray player and tannoy sfx 5.1 speakers. Hooking it was a doddle (especially as a 1st timer) and the on screen display for the setup menu helped with getting the volume and speaker distances correctly configured. Its great value and is also 3D compatible which makes it future proof for a while. Tuner though is quite poor (but that isnt what we need it for) music though sounds great via mp3 player connected through aux port. It has alot of different sound settings for movies, gaming and music all easily changed. Great value for the price. Would definitely recommend to anyone looking to buy a 1st AV reciever.