One thing to keep in mind is that in reality not all channels are playing all the time. Most times, it is only center channel. Only very rarely you have the LCR playing together and that too for a very short periods of time.
Another thing to consider is the sensitivity of the speakers. If you have high sensitivity speakers like the Klipschs, you will need very small amounts of power to drive them to reference SPLs (my reference is 84-85db)
See here for more details http://www.hifivision.com/speakers/...s-your-speaker-need-power-vs-sensitivity.html If your speakers are 90db sensitivity, you just need 0.5 watt power to drive it to 87db SPL. Even if you assume huge dynamic range (ex: gun shots) in movies will sometimes cause SPLs to go up to 100 db, you still need 16 watts of power. Looks like receiver manufacturers are not total idiots after all.
Spend on what you need
True. a 90dB sensitivity speakers need 0.5 of the same power as an 87 dB sensitiivty. but that is at 1 Khz reference signal, in actual conditions you have a huge range of frequencies the AVR dishes out to the speakers and you will have much lower sound pressure levels. So you actually need a bit of both if your room size is big. because you are seated farther away from the speakers , based on your TV screen size i presume. High Sensitivity Speakers (90dB and above) with a Muscle amp in conjunction.