Okay, first off, thanks for all your input guys! I have run Audissey and double checked using SPL meter. Here are some Stats:
sub on, set to LFE and mains
crossovers at 80hz front, 80hz center, 90hz surround, LFE at 90hz.
For "Direct/stereo", fronts at large, sub on LFE+Mains, crossover set to 40hz
Channel levels:
FR 0.0
C -2.5
FL 0.0
SR-6.5
SL-6.0
SW-11.5
Again, running band limited pink noise using DVE, reference level is +7 to achieve target of 76db.
Full bandwidth pink noise is 85 db at +7.
Using receiver test tones, 85 db at +7
When I listen to a CD using these settings under stereo mode, "0" on my receiver gives me SPL of 99db.
Maybe everything is OK and this is as good as it gets?