So I did manage to get my receiver working late last night. Turns out "TV", "BD" "Video 1", "Video 2" all go to component type inputs by default.
Plus I had been only toggling through HDMI inputs 1 & 2, while my stuff was on inputs 3 & 4.
Even with insignia speakers, man what a huge improvement. There's a mic that auto calibrates everything, but I haven't bothered with anything fancy yet, it was a big enough deal to simply get the cable working.
The one nice thing about insigias is I dont feel like I even need a subwoofer.
Curiously, the stickers that come on the receiver claim the amp to provide 140 watts x7, but online its reported as 130 x 7 on sony's site, and 120x7 on engadget.
I'm hopefully going to wall-mount my screen today, which will center everything properly and let me extend the width of my speakers. I should have bought this thing a long time ago