yes I have listened to 2 channel music and its sound great,and the 4306 does let me set crossovers for each speaker. I already know about the bypass for the sub. I think im on the right path I just have to tweak alittle when I get my sub on Tuesday.

2-M80v2 VP150 4-QS8 EP500 DENON 4306 Panny AE900 Toshiba HD-XA1/PS3