The MC-1 is great for HT but too grainy for music. Meridian and Proceed both do a better job for 2 channel and are as good if not better than the MC-1 for HT. I found the Proceed AVP to better match different systems that I had going through my HT as it is very neutral and very easy to use.
If you want a multi purpose processor I would not go with the MC-1. Try a DC-1 then swap it out with an MC-1 and the difference is not staggering at all. You can even call Lexicon and they will tell you that the MC-1 is basically a tweaked DC-2 which is essentually a tweaked DC-1, the differences are a lot more closer than you would think.
If you want a multi purpose processor I would not go with the MC-1. Try a DC-1 then swap it out with an MC-1 and the difference is not staggering at all. You can even call Lexicon and they will tell you that the MC-1 is basically a tweaked DC-2 which is essentually a tweaked DC-1, the differences are a lot more closer than you would think.