DL, if your 595 manual shows a 120Hz crossover, you're correct that this is too high for best use with M22s. Again, as to a probable inaccuracy on the 303's crossover dial, on simply a guess I'd say it's more like 70-90Hz and that you should set it at the lowest setting, nominally 60Hz. Unfortunately this type of connection doesn't relieve the M22s of any of the low frequency burden that a receiver with a 80Hz crossover would allow.

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Enjoy the music, not the equipment.