Dolby AC-4 another codec!

That's why in a couple of systems I have preamps with HT Bypass and buy refurb receivers (as I view them as disposable or movable to a secondary system) and also don't need to be the first on the block with the new surround format. Personally, I'm happy with the current state of things. I think they invent some things just for the revenue streams from both consumers and theaters.
 
Personally I think HT Bypass is essential.

AC-4 can be as low as 96kbps for 5.1 channels, further decreased from AC-3.
 
I actually have three preamps with HT Bypass. Using one of the three in just a 2-channel system (but do have in-ceiling surrounds if for some reason I change my mind). In the main system when I watch a movie, I don't even need to turn on my preamp. It automatically reverts to HT Bypass when it is off. At one point, many moons ago, I owned expensive pre/pros. Nice for an all in one unit, but it ends up being a compromise to some extent and then the surround formats change and it is more difficult to sell and then more difficult to rotate to a secondary system as one needs multi-channel amps. Had those too many moons ago. In order to fit everything in the rack, I had an amp to the left side of the room behind a couch (on a stand) to feed the center and surrounds. Much prefer the HT Bypass where I can just take a receiver and move it somewhere as an upgrade to what I currently use in another room.
 
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