This is not a processor of any sort. It is an entirely analog 6 channel preamp. Any processing, except for channel levelling, must be done externally.
Searching the Audio Asylums for 'MET1' probably will get you lots of info.
I have one and love it. Its predecessor was an Audio Refinements Pre 5, another all-analog 6-channel preamp that sounded very good in my system. My Pre 5 was improved with better input- and output-coupling and powersupply caps. I'm no GEA who hears quickly all kinds of subtle differences, but the c-j definitely makes the music sound 'wholer', more like music, compared with the Pre 5, and the Pre 5 sounded better than the big Marantz 9000 pre/pro that preceded it in my system. Harry Pearson in 'The Absolute Sound' wrote, among other positive things, that the MET1 added meat to the bones of multichannel music. E-mail me at jeffreybehr(at)cox(dot)net and I'll send you that blurb. The Denon DVD 2900 and an old CD player are the only digital devices in my MC-music/video system.
Also, the MET1 participated in a hi-end-preamp comparison the Arizona Audio Video Club did early this year. Read that here http://www.audioasylum.com/cgi/m.pl?forum=amp&n=93960&highlight=met1+jeffreybehr&r=&session= . Some woudl say that it 'won'.
As far as movies sounding "...much better as a 2 channel (sic) output than the 5.1 digital equivelent (sic)", I don't agree or disagree, as I never listen in 2-channel to movies that have multichannel digital soundtracks.
I don't have experience with the CJ but do with 6 channel analog. I use a McCormack MAP1 pre that is the same configuration. I like the simplicity and great sound with DVD's and music. The only real disadvantage I find is with HDTV. All the boxes have 2 channel analog (using crappy on board DAC's) or digital outs for multi channel. While the McCormack's ARM does a good job of creating multi-channel, it still sounds a bit compressed, probably due to the crappy DAC's in the HDTV box.