This review almost put me off this unit permanently, but decided to borrow one for the weekend from the local dealer. I currently have a brand new NAD M33, which is superb in almost every way, but it's impossible to use it to drive the fronts in a surround setup (way too much audio delay on analog inputs). I was told beforehand by the dealer that it could do this, with the one caveat that I had to change the volume every time to accomodate the receiver.
The Lyngdorf has no such issues, even sporting HT bypass. I was very critical about the sound quality though compared to the M33. There may be some more noise coming from the speakers on the 3400, but not much (on USB input at least, which is what I would use for all critical listening). Only use analog for subs and surround.
I listen to a fair bit of classical music, and it may sound a tad cleaner on the M33, but on the other hand it seems a bit more dynamic on the 3400. That may just be the RoomPerfect doing its thing - which seems to work better in my acoustically treated room (or for my ears) than Dirac.
If both amps could be used in a surround setup, I'd give the edge to the M33 for sure - you simply get more for your money with a great color display with touchscreen, much better software for streaming, MM/MC phono support out of the box, HDMI etc (no USB-B though without paying out the a$$ for an expansion card). But I may still end up returning mine and getting a Lyngdorf instead now, so I can have 'everything'.