Using a Yamaha RX-V3000 reciever as a preamp

Can a Yamaha RX-V3000 H/T reciever be used as a preamp(it has preouts)for 2 channel with good results?
I have a 2 channel amp I will use to power the front R/L channels. Will I suffer in 2 channel sound quality? My stand alone preamp is a Simaudio P-3. The amplifier I want to use is the Simaudio W-3.
Thanks for your help and responses.
I have done this with good results with a Yamaha receiver for a short period of time. But, it will probably not be as good as the Sim.