Yup my sofa is about 7-8 feet away from the speaker, behind my sofa is actually the dining area and open kitchen area. Compared to the previous setup using krell 400xi, the speakers are not bass shy anymore. The bass now goes deep and tight (not as fast/accurate as the krell), and the sound is much fuller. Instrument separation is at another whole level, and the soundstage is wide and you can feel the 'depth'.
I find that the larger area actually provides more space for the speaker to sing (note that I did not so any sort of room treatment, but just let it sings freely in my living room). Overall im really happy with the MC402 pairing up with the olympica II.
I also did some trial between the 4ohm vs 8ohm output from the mc402, and i like the 8ohm more (olympicaII is rated at 4ohm). I find the sound from 8ohm is more dynamic and accurate, while the 4ohm is slightly better at midrange (smoother & sweeter)..
Once again thanks everyone who contributed their feedback!