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!
draw
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.
I think a two channel preamp with bypass feature is the way to go. It is not a more expensive option if you use an HT receiver as a processor because you don't need to buy a three channel amp to power the center and rear channels. I use a Sonic Frontiers line 2se with a Denon 3300 receiver. No pre/pro will sound as good for two channel as a good two channel preamp.