Hi tofufot,
Does this set up make sense?
Almost. But there's a better way to hook up your SCD-CE775 (BTW, same SACD player I use).
The way you have your SACD player's settings currently (subwoofer OFF), the player is forced to blend the .1 LFE channel with the front two channels of the 5.1 mix. Better to set the player to the 'Direct' mode, so that all 6 channels are sent to the 950 without any bass management or channel combining; let the 950 handle all that.
And don't worry about the double-bass problem. Since you're using the 80Hz crossover, it won't affect you.
Good Luck,
Sanjay