Can a Classe SSP replace a dedicated stereo pre?

YES.
I have a Classe SSP-800 and it is fantastic in 2 channel.
Read Robert Harley's 2008 review of the Classe SSP-800 and this review:hometheaterreview dot com/classe-ssp-800-av-preamp-reviewed/

However, my peripheral equipment is top of the charts so that is a contributing factor. But Classe makes fantastic processors.

I'd get an SSP-800 if you can. They are being sold for around $3000 or so on EBay. Best deal on the planet.

Thank you dmcneilr and vinylshadow! Your inputs help a lot. 

I have purchased a Sigma mk1 for now, if Classe is still offering upgrades I can try to get that done myself. 

Super excited, I am moving to a new rental and will try both my existing preamp and the Classe there!  

Bwguy! You are correct, it is a Wolfson! Too much audio pollution in my brain. I also agree with you in regards to it being a great analog preamp. Its hard to beat in digital bypass. Look at the THD numbers in digital bypass. Extremely low.  Akhi I think you will be pleasantly surprised. Sigma SSP's on the used market are a steal! Enjoy....

My only pause with Classe is their less than excellent service. They've transitioned ownership a couple of times recently. I had a CP700 pre that sounded fantastic. It needed warranty work. No power surge was noted. The unit needed a main circuit board and the touch screen replaced. I was the second owner. Classe demanded the original sales receipt before honoring the warranty. Through much pissing and moaning, I got Classe to honor the warranty. I wouldn't complain about this not being the original owner BUT, their are companies who will treat you like gold no matter what. Pass labs for one. They rebuilt an ageing X-1 preamp for me. I braced myself for the bill. $125.00!!! Pass's explanation; We don't believe in making money on repairs. We charge as little as possible to get the job done. I fully expected to shell out $1500.00 or so. (They replaced two boards and the display and fabricated a new box) I've said this here before. I need to say it again as such a company deserves to be heard time and again. Joe 

I’m running a Marantz 8805 with a Mc 8207 amp for music and movies. Music is quite good although I am curious if dedicated 2channel with a ht bypass would be a significant improvement.