Stereo preamp for HT bypass


I'm planning to build a system for music and HT. I've heard that you're better off by-passing the a/v preamp to a good stereo preamp for music listening. What are the pro's and con's of doing this? What combinations(a/v preamp/stereo pre)work well together? I plan to use a 5.1 system with Dynaudio Contour 3.3 for L/R. Thanks for your insight!
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I have done this in my current system using a Mark levinson #380S pre-amplifier. My processor for theater is an EAD Ovation. This processor is excellent at movie soundtracks, but would not serve very well for 2 channel (particularly analog) playback. The advantage of this type of system is flexibility, (particularly for upgrading the processor section) and sound quality. I've been using a configuration like this for years now, and have upgraded both the processor and the pre amp during that time. The disadvantage is price. There are a few very good processors with good analog bipass circuits built into them. The proceed AVP is one that I auditioned, and had I not already had the 380S I would have likely gone this route. It is very good on 2 channel audio--and the volume control is in the analog domain. If flexibility and the best sound quality is what you want, and you don't mind the added cost--this is the best way to go. For most, it's more practicle to choose a good pre/proc that has an analog bipass mode for 2 channel audio.
The Conrad Johnson PRF Preamp (Stereophile Class A for audio) has processor loops, so you should be able to do both. There is one on eBay now.
I'm using a VTL TL 2.5 preamp and have a Marantz SR 7000 receiver doing the processing and running the center and surrounds (with the mains run from the preouts on the Marantz to the processor loop on the VTL for HT). All things considered, a pretty cheap solution.