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.
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!