Thanks for all the input everyone. I think I'm going to go with 1 sub for now. I'd like to use 2 but I want to spend some decent money on them and right now, while renovating my new house (well, old house, new to me) my budget is too tight and I'd rather spend more than a grand per sub. I think I'll one the SVS SB16-ULTRA for now like I mentioned above and then in several months when things have settled down I can get another.
@cleeds - no, that's not correct. My schematic doesn't show that. I'm not combining the L/R at the preamp. I'm sending L to one sub and R to the other. But I'm not going to do that now. I'll revisit all this later. With just one sub for now, the connections are a no brainer. Just what I've been doing for the last 25 years with my M&K.
@hifibliss - my room isn't as big as yours. It's only 14' x 17'. It's an okay size but I think 4 subs would be too much and like I said above, it's not in my budget. Ideally after I have 2 nice subs I'll upgrade my mains to a full range pair. I used to have a pair of Nautilus 803's but had to sell them 20 years ago for financial reasons. I really miss them. I have to do some research when I get new mains but I've wanted pair of B&W 802D's lately or maybe 803D's. We'll see when I get to that point.
Thanks again everyone!