A currently upgraded AVP is able to handle 7.1. It has "auxillary" outputs that can be programmed as "sides" and a few other options. I cureently am running stereo subs by taking advantage of the auxillary outs. Inputs and outputs abound on this thing, can't imagine running out. I am quite satisfied with "analog by-pass" 2ch. ability of the AVP, since I purchased it I have increased my music library by at least a 1/3. Obviously, HT is amazing! Unfortunately, I have no experience with the Lexicon models, but I do highly recommend the AVP, so much so, that it is the only part of my system that I know will be with me for many years to come. In fact, if I were to go crazy with upgrade fever again I would keep the AVP as my HT processor and probably buy a separate 2ch. system. It is a very safe investment, and one that pays big dividends. Good Luck
