Is 2 channel dead?

Paul is dead...2 channel is not!

It's dead. Honest. Send me all your gear.

IMHO: 5.1+ is best suited for movie entertainment. I began upgrding my system over four years ago and went into HT. I found the 5.1 special effects from the satellite or DVD entertaining to some degree. However, I also found myself listening to music in the two channel mode. HT/surround sound in music is not conducive to the live music experience, unless you're sitting in the middle of the stage with the musicians all around you. I found it distracting and unrealistic. Sold all the HT gear, and am happily ever after, a digital and analogue two channel aficionado.

I bought an expensive processor and a 5 channel amp. Only use the processor for movies, and only use the front channels of the amp most of the time. Since upgrading my vinyl rig, I can say that not only is 2 channel NOT dead, analogue and vinyl played on a properly set up system beats 2 channel digital (even SACD), or multichannel anything all to heck every time! Don't get me wrong: I like 5.1 soundtracks on movies through my system as well. Special effects from behind and to the sides are cool, as is the LFE channel through a sub. But any multichannel music I've heard, not only at home, but on other's megabuck setups just doesn't sound natural or "right". There is something pure and palpable about 2 channel. I am enjoying SACD more, but my SACD is all 2 channel as well. My Sony NS500V is handy as it does Redbook/SACD/DVD. I can use it for movies, and get a taste of new formats without spending a fortune.
I'd rather spend my money on LP's. Just my 2 cents... YMMV

Definitely not! Mulitchannel is simply alive. I have both systems, but after serious listening on an integrated system, I found that while multi-channel is great for movies, 2 channel was still superior for music. So I rebuilt a first class 2 channel rig, and now have both in separate rooms.