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As for the processor, I'm going to have to go with the CP65. It has a cleaner sound than the CP500 and can easilly accomodate all digital formats without redigitizing the incoming 6 track signal, as the CP500 does with DTS, which will degrade the quality. I don't care too much for the CP200 either. It sounds good, but it is really weird and requires so many external modifications and boxes just to get it to do what 1 CP65 can do. Just looking at the thing you'd think it was 40 years old. The only thing I don't like about the CP65 is that it pads the surrounds in digital mode. That really sucks for Dolby Digital. I guess Dolby had to put something in there to make it cheesy. However this doesn't affect DTS since the levels are set seperately. So it's livable. This is probably why I prefer the surround presence of DTS over SRD... I can hear them!
I don't care for Ultra Stereo processors. The stuff looks and feels cheap and you can tell that it sucks just by listening. They sound harsher and more hollow than the Dolby processors. And their level pots and EQ pots are really "twitchy".
I have been fortunate to install/use the new DTS digital processor called the DTS-6AD. Looks alot like a CP-500 and installs fast! Sounds good, too. It really makes those surrounds come to life! The only thing I don't like is that it uses all DB-25 computer connectors for the input/outputs---I hate making those connectors up. It would be nice if DTS would make the cable/connector up, say 6 feet long with stripped/tinned wires at one end.
Dolby is clearly the best processor. However the CP45 is junk. I strongly dislike the CP65 purely for the padding down of the DA20. If it weren't for that and the lack of full magnetic capabilities, I would highly recommend it as my favorite. However, I'd take a CP200 with an aux rack any day for my personal preference. A good second is the CP500, although there are a few quirks with these and the sound can be a little harsh if the eq is not done carefully.
I've never liked Ultra Stereo very much, although if I couldn't have a Dolby, this would be my second choice. I've never worked with the Panastereo line, but anyone who has to resort to putting a sexy woman with a gun on their ads to sell a product must need all the help they can get. Plus, for those cosmetically minded, the Panastereo units just look cheap. (Hey, you wanted honesty, right?) I've never been happy with SMART processors, although I will admit I've never had the chance to work with their top unit.
(Please note before any flaming begins that I am not stating the Panastereo and SMART top of the line units are bad. Again, I've never worked with them.)
The Sony analog processors are junk. This is to be expected from the makers of SDDS, though.
While we're discussing equipment, it's JBL speakers all the way for me. There is no other option in my book.
Regarding amplifiers: two of the requirements we like for theatre amps (assuming the electrical parameters are within spec.) are; no front-panel volume control that unauthorized personel could alter, and some measure of output level indication (the second is not absolutely essential, but is, at least, reassuring during a performance).
Both of these requirements have been met by the amps I have been using over the last few years:
Ashley - The older FET-200 and FET-500 models were extremely reliable, having a very low failure rate. The newer FTX-1501 and FTX-2001 have not proved quite as reliable.
QSC - The first thing I liked about the 1222 and 1622 models was carrying them up to the booth. The switching power supplies make for a very light-weight unit. In five months of use, I have only encountered one failure so far.
During a routine service check of one installation, recently, while running pink noise into Left channel (CP-200 with T.H.X.) I found no Left channel bass. Input plug substitution with Left-Extra proved the problem to be with the Left amplifier. Turning the fader up to near 10 brought the bass channel to life. It stayed good, after reducing the level to 7, but only for about half an hour. I changed the amp.
Front-panel controls are sealed by a cover secured by an allen screw.
Speakers - JBL or EAW.
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Dolby CP500 isn't very impressive when it comes to pure sound quality. Then I prefer the good old CP65.
We use the only swedish THX certified amps around, they are called Lab 1000t. Powerfull (550W 4 ohm FTC) but slim (only 2 units high) and absolutly perfect for our 215 seated auditorium.
OK now for reality... I have installed just about everything you can think of amp-wise, and my favorites are the QSC 1000-series (1400, 1700 et al) although I have had little problems with the USA series either. I like BGW and Crest as well.
Processors: Just anything Made from Dolby save for the CP-100 and older CP50s, I prefer the CP55,65,200 and 500 the best.
Ultra*Stereo 200 series are also almost as good as the Dolbys and save for a couple of bad power supplies that caused a mysterious hum in two of them, they have been a very good unit for the money, and can handle 6-channel sources 'right out of the box' ( try that with a CP50!)
I have no experience with the Panastereo or Sony, so I cannot make any comments about them. Some of the other Smart units range from pretty good for a basic 4-channel processor, to 100% pure CRAP!
With Kintek being out of business, I try to avoid them for a retrofit install, but still come across a few of them in my travels.
Worst processor? Easy. Eprad STARSCOPE and its brethren. DAMN these things suck! 
Speakers? I prefer JBL, but really like Altec, EV, and Apogee as well...
Until later...
Aaron
The company that makes Crest Audio and , if I remember right, the one that makes QSC, has been bought by the company that makes Peavy amps. In the process they have moved their factories to a 'central' location and in the process have been going through a lot of quality control problems. The story goes that one of the P.C. boards in the amp is on an 'edge connector'. Well, when they retooled the factory, they started making the printed circuits just a hair too wide. So what did they do? They BUCKLED the cards to fit them into the edge connector slot! Hence, all of the bad amps.
For speakers...properly updated Altec A-4s in the right theatre just can't be beat. Updating includes, retuning the cabinet/ports, updating the drivers (to 515-16G)...we can now recone 515Bs and later to Gs. And chucking the multi-cell for a Mantaray...the BEST CD horn out there. I have placed referbed Altec A-4s and A-5s in place of misplaced JBL and EV and always received thank-yous. The Altec 288/299 driver is much less harsh than the JBL 2446 and a whole lot less harsh than EV DH-1a. The horn load of the Altec covers up a lot of poor theatre acoustics by not bouncing the sound off the walls. By retuning the cabinets and updating the drivers, 40-16KHz without any major EQing is very doable and flatter than their direct radiator counterparts in a "tough" room.
The down side is that EVI just announced that the 299 and the Mantarays are to be discontinued. If you have Altec's in your theatre, try and get the horns upgraded to Mantarays before they are gone...you won't belive how much better they will sound. I'm not kidding, the MR-94B and the MRII594A are the best CD horns in their size class period.
My pick for the typical "mall theatre" is the ever trusty JBL-4675.
I would say that EAW is the speaker company to watch though for the future. They have a nice mix of horn and direct radiator speakers and are decent sounding.
For speakers...properly updated Altec A-4s in the right theatre just can't be beat. Updating includes, retuning the cabinet/ports, updating the drivers (to 515-16G)...we can now recone 515Bs and later to Gs. And chucking the multi-cell for a Mantaray...the BEST CD horn out there. I have placed referbed Altec A-4s and A-5s in place of misplaced JBL and EV and always received thank-yous. The Altec 288/299 driver is much less harsh than the JBL 2446 and a whole lot less harsh than EV DH-1a. The horn load of the Altec covers up a lot of poor theatre acoustics by not bouncing the sound off the walls. By retuning the cabinets and updating the drivers, 40-16KHz without any major EQing is very doable and flatter than their direct radiator counterparts in a "tough" room.
The down side is that EVI just announced that the 299 and the Mantarays are to be discontinued. If you have Altec's in your theatre, try and get the horns upgraded to Mantarays before they are gone...you won't belive how much better they will sound. I'm not kidding, the MR-94B and the MRII594A are the best CD horns in their size class period.
My pick for the typical "mall theatre" is the ever trusty JBL-4675.
I would say that EAW is the speaker company to watch though for the future. They have a nice mix of horn and direct radiator speakers and are decent sounding.
The Dolby CP-200 tops my list. It is extremely flexible...very usable as-is and is upgradable to be the equal or better of any in the Dolby line-up.
Steve