I have the Pioneer AX5i and have been very happy with it for movies. So I'm sure this model is as good and has extra features.
Actuially for music, it's also very good. I auditioned the MA GS20's with the AX4AVi (because I have the AX5i) and an Arcam CD192 and music sounded brilliant. I'm sure a dedicated amp/cd player combo will sound even better. I listened to LOTR in Sevenoaks with the Ax4AVi and the GS20's and a sub and it was just amazing!
FYI: there are other amp's with hdmi also. (ex. JVC D701 & Yamaha RX-V2600) One small list of HDMI-receivers can be found i a thread over at AVS Forum titeld HDMI receivers.
It comes with an ipod cable too - navigate your ipod on screen and playback through the amp. (although on-screen text-only is remarkably crude).
It does not resample analogue video inputs and put them out on HDMI when I try it with sky RGB (converted to component) or s-video out (despite its claimed "digital video conversion"), so you probably still need a second connection to your screen if you have analogue video sources.