To start off, the VSX-1122-K is rated at 90wpc (measured from 20Hz to 20kHz with 2 channels driven at 8 0hms) and includes audio decoding and processing for most surround sound formats, including Dolby Pro Logic IIz and an additional wide surround processing format.
Also, this receiver features Audio Return Channel and an HDMI standby pass-through feature (which allows audio and video signals connected via HDMI to pass through the receiver even when the receiver is in standby mode) are included. For video support, the VSX-1122-K includes 3D pass through and 1080p video upscaling via HDMI connections (there are seven inputs and one output).
However, here is where it gets really interesting. The VSX-1122 can access iTunes via Apple AirPlay. Content stored on iPods, iPhones, and iPads can also be accessed via the USB input (connection cable provided). The VSX-1122 is also HTC Connect compatible. For more control and management of music files, this receiver can also take advantage of Pioneer's Air Jam Apps.
In addition, the VSX-1122 can also access both internet radio and content from DLNA compatible devices, such as PCs and media servces.
For additional suggestions, check out my list of Midrange Home Theater Receivers.