Not yet. But you can split the rear channels and send them to both rear and sides.
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We may see some 7.1 source material start to emerge from HD-DVD / BD-DVD. For all the other source material available, you may want to try using DPLIIx / Logic 7 processing to generate 7.1 distinct outputs for 2.0, 5.1, (and perhaps 6.1) input sources. That would make the unit a 7.1 PrePro rather than a 7.1 preamp.
As I inderstand the way they work, DPLIIx / Logic 7 extracts and redistributes the surround information from the source, they don't add anything.
I've been listening in 7.1 for many years, and find it has much better surround envelopment than 5.1.
The Oppo DV-980H has 7.1 analog outs. I plug mine into a Boston Acoustics AVP7, which has 7.1 analog inputs.
I like the sound and performance of this arrangement. It does a nice job on Red Book, HDCD, DVD-A, SACD, and std. DVD video. I actually slightly prefer the Oppo's internal decoding over the Boston in some cases.