Opinions on Lexicon MC-1 re:2-channel transparency

I might either buy a Lexicon MC-1 or a Meridian 565. I wanted to know how these proc's rate for stereo playback as well HT use
I have the mc-12b using quattro fil xlr. I have the emc-1 24/192. Right now I use an expensive siltech aes-ebu instead of the rca on the emc-1. My friends who have a good ear said it is better using the Lexicon dacs! I was using spm ref rca among others. Go figure.
Don't know if cost is an issue in your purchase, but I wanted to point out that the MC8 will be out soon (if not already) and will be compatible with DVDA and SACD, so you may want to hold off on your MC1 purchase.
I have a friend who owns a MC-1. I borrowed a Theta Cassanova and A/B'd the two. The lexicon got the edge in HT because of better set up parameters and better menu system. as far as 2 channel performance goes no contest the Theta has a more musical presentation, better dynamics and soundstaging. I sold my DPA transport and DAC and my Audible Illusions preamp, Adcom ht processor, and bought the Theta it simplified my system and made nice gains in both music and HT.
I happened to own both the Lexicon MC-1 and Meridian 565. For just pure listening I enjoyed the 565 MUCH more than the MC-1 in both music and movies. For ease of use though the 565 is a pain in the A**. I have not personally tried the 561 but a friend of mine has one and really enjoys it and the user friendly issue seems to be much better.

A used MC-1 and 561 should be close to the same price as well as the excellent Proceed AVP which does a better job at music then the 565 but is just a little short when it comes to movies.

My personal choice would be a used Proceed AVP with a used Meridian 561 a very close second. The 561 only does 7.1 when using meridians own speakers for the back surround (it has 7.1 digital outs and only 5.1 analog outs) the Proceed does 7.1 but it is not EX or ES but there own software that works basically the same.

My main gripe with the Lexicon DC-1 and MC-1 (both of which I owned) is that music sounded too grainy, movies were top notch but music really suffered compared to the Meridian and Proceed.

Good luck