Having had an opportunity to test Denon AVR-X540BT vs Pioneer VSX-933, I’d like to share my impression here to facilitate your choice of a new AV receiver.
The number of channels for receivers is different - 5.2 versus 7.2, respectively, for devices. In terms of power, there are differences, the AVR-X540BT has such a ratio W/Ohm - 70/8, 90/6, while the VSX-933 has a power of 80/8, 165/6. A common feature for devices is the same total harmonic distortion - 0.08%.
The manufacturer installed different DACs, the AVR-X540BT received the model 192 KHz/24-bit, but the VSX-933 is equipped with AK4458 384 KHz/32-bit. The Bi-amping function is implemented only in the Pioneer VSX-933. Both Denon AVR-X540BT and Pioneer VSX-933 can transmit an audio signal directly to the amplifier and bypasses any DSP processing. Each of the receivers has a Bluetooth connector. Access to the Spotify service is on each of the competitors. The number of available streaming services varies for receivers, the Denon AVR-X540BT works with TIDAL, Pandora, but the Pioneer VSX-933 works with Deezer, TIDAL, Pandora, TuneIn Radio. The quality of 4K/60Hz signal remains unchanged when transmitting from a source to a TV or projector via HDMI for both receivers. Signaling over HDMI in standby mode can provide the AVR-X540BT and the VSX-933. Video scaling is only possible with the VSX-933. Each of the participants of the comparison has a Dolby Vision.
The number of HDMI inputs/outputs varies depending on the receiver, the AVR-X540BT has 5/1, and the VSX-933 has 6/1. HDMI Audio Return Channel is implemented in both devices. HDMI eARC is not supported by the AVR-X540BT and the VSX-933. When comparing receivers, it becomes clear that each of the rivals can work with HDMI CEC. AVR-X540BT and VSX-933 support the standard HDCP 2.2. In the presence of a built-in phono stage for connecting a vinyl player only at Pioneer VSX-933. There is an ECO mode in AVR-X540BT. The Denon AVR-X540BT and the Pioneer VSX-933 can be properly configured using the setup assistant.
A Dolby Atmos multichannel audio format is available only in the VSX-933. Only in the VSX-933 realized a DTS:X surround technology.