Definitely not! Mulitchannel is simply alive. I have both systems, but after serious listening on an integrated system, I found that while multi-channel is great for movies, 2 channel was still superior for music. So I rebuilt a first class 2 channel rig, and now have both in separate rooms.
Is 2 channel dead?
I keep reading about SACD and DVD-A and I wonder about the modest 2 channel system I am trying to build. Am I wasting my time? Am I throwing away money on something that won't last past next year? If so, what the heck am I going to do with all these CDs? Will 2 channel and 5,6, and 7.1 exist together?