Miss Lena,
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You’d prefer a lower resolution 2-channel CD processed via L7 VS potential 5.1 discreet channels at higher resolution.
In a heartbeat! And it doesn't have to be L7 either: I'd take a 2-channel CD processed via PL II Music mode over (almost) any of the 20 or so multi-channel SACDs I've heard. Modern matrix decoders, like L7 and PL II, provide excellent envelopment and stable logic steering. Most importantly, they're adjustable to my tastes.

I mention personal tastes because, while I can hear the benefits of SACD, the increaded resolution does very little for me emotionally when listening to music. Truth is, unlike how I feel about -say- NTSC video, I've never felt that the CD format was lacking in resolution. A well made CD sounds really good to me! (Maybe I have pedestrian rather than audiophile tastes.)

The more I listen to discrete multi-channel mixes on SACD, the more I prefer the 2-channel mix via matrix decoding. Many discrete multi-channel mixes are either too tame or too distracting for my tastes. PL II Music mode, in comparison, can be dialed in to sound very natural and involving at the same time.
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Logic 7 is VERY good ….but its not that good!
Bite your tongue young lady!

Best,
Sanjay
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Sanjay