Yes, the Denon 4700 allowed me to select Audyssey "front L/R bypass" in all modes including 2.0, 2.1 and 7.2.4. Of course, each mode has it's own memory so the setting had to be selected for each one under Audio: Audyssey.
Thank you, in my case I have to reconfigure it back to 7.1.4 each time after using L/R bypass in 2.1. Not an issue for me because I don't use 2.1 and would not want to use bypass if and when I do, but good to know the 4700 has the added convenience to switch quickly from one to the other.
Edit: I haven't tried listening critically but there is also no reason for it to "sound" difference even if I leave the configuration always in 7.1.4 when playing 2.1 contents in L/R bypass mode because there won't be any up mixing anyway.
So the remaining question is, we know ADC/DAC would by bypassed in direct model, stereo mode with no bass management applied, but we can's say for sure if ADC/DAC would still be bypassed in Stereo mode L/R bypassed. If it does, then there may be benefits for those who doesn't want their FL/FR Eq'ed but do what the subwoofer Eq'ed.
I can probably get an answer from Marantz again on that, and ask the same on the Audyssey FAQ site as well.
Or, we can try to convince Amir to a test next time he gets a Denon or Marantz.