Hey guys- Except for one response above, it seems that everyone missed the point of Springowl's question. He's currently using his HT receiver as a pre-amp only, driving 2 and 3 channel amplifiers (separates). His question, I believe, is "can he purchase a HT receiver that will give him as good, or better sound that his current hybrid setup", or should he upgrade to a complete separates setup (high-end preamp with fixed gain HT bypass input, HT receiver for decoding multi-channel mixes, plus separates for amplification be it one, two, three or more channels in the amplifier.
Or, ultrahigh end multi-channel processor (Proceed, Meridian, etc.) instead of the HT receiver and high-end preamp combo. That is his question IMHO.
I don't know the correct answer but I'm about to look at the Proceed AVP-2 processor- preamp combo, which should be upgradeable, in the near future, to digitally decode SACD now that the fire-wire transfer scheme has been agreed to.