I'm almost too embarrassed to ask, but.....

Not embarrassing at all! Technically, there is no reference standard for left and right! When dealing with a car, we refer to driver's side and passenger's side. In boating, channel markers that indicate right (starboard) are colored red, and left (port) are colored green and should be off of that respective side of the boat, when you are heading INBOUND. These two standards eliminate ANY confusion due to the observer's reference point. Kind of scary that surgeons still refer to body parts as left and right!

2chl- I would have to bet that its l and r as viewed from the listener's perspective.

Mdomnick, the phase invert on my preamp was set on reverse (for a reason). Sure enough, when I switched back to normal, the trumpet player on the Sting DVD, as mentioned above, came through the right speaker (which is correct). The reason I switched the Invert to reverse in the first place is because an audio dealer told me that the preamp I am using (a modded Musical Design SP1) was designed such that the signal is inverted and for best results I should wire my speakers out of phase. Rather than wire the speakers out of phase, I simply inverted the switch on the preamp. The dealer told me that in order to make the gain path as simple as possible, the design of the SP1 eliminated a stage that causes the signal to become inverted. I have not done any follow up to see if this is actually the case. I simply took his word.
Who would have thought this silly question would have generated such a dilemma??!! 2chnlben

I must be missing something here. My current preamp is phase inverting which require me to swap the connections at the speakers so the drivers move out when they are supposed to rather than be sucked in. (How's that for technical lingo?) That doesn't have anything to do with left and right being correct. Of course, your situation may be different with HT being a part of the package where I'm simply two channel. I've owned a preamp that had a reverse switch which changed channels left and right but I don't recall this being called phase inverting. Could somebody explain a little further? Or, do I already understand this correctly? Thanks.

Lugnut, you are right. Thanks for jogging my brain. The reverse switch on my preamp has nothing to do with the phase. It only reverses the right and left channels. Now, my DAC does have an switch that will invert the phase. So, if it is as simple as I think it is, I should be able to invert the signal at the DAC, wich will inturn get inverted at the preamp, therefore making the signal normal. Thus, I don't have to change the wires at the speakers. I think!!!!!!