Even though I rarely use the artificial DSP modes much and seem to be in the minority in my opinion, if they don't otherwise detract for the overall product quality or add unecessary cost -- Why Not, it might come in handly when playing a PS-2 or something?

I vote Yea.

Two items however that are NOT negotiable are:
1) Multi-channel stereo modes 5.1, 6.1 and 7.1.

2) Phantom modes to simulate additional speakers over 5.1.

I would image many users purchasing this pre-amp for use with an older 5 channel amp and 5.1 speaker system. The phantom modes would allow some benefit from EX encoded until they budgedted for a new amp (model 770?) and/or additional speakers.

Thanks.