Indeed, the arcam does have dirac live though. But apart form feature set, did you notice a big audible improvement?
I found them relatively the same (when compared similarly, i.e. direct 2ch mode on the avr to leave eq and subs out of the picture), the separates advantage was a bit more power for a bit more capability for loudness. I don't find any of my various avrs vs pre-amp/power amps amps to have particularly signficant different "sound" or a "sound signature" as long as they're suited to purpose. You can always add more power via external amp on the avr if needed. The Arcam may have Dirac but there's still no accommodation for a sub, but that may depend on your speakers or preference (even my towers with decent performance in bass I supplement with subs).
ps You can get Dirac on the newer Denons like the 3800....