I just got an S550. It's almost the same as S350 but with 7.1 analog output.
after playing for few days, i am pretty satisfied with the machine. The analog output quality is good, not great. I would say about the same quality as a $800 receiver.
It is made in Japan. unlike S350, which is made in Malaysia.
The price i got is $300 USD with 4 blue ray movie.