Yeah: I am in a position where I can separate the two, but it does seem a waste to not reuse great equipment across at least the front three channels.
I am also torn as to whether to apply Dirac Live to stereo sources, or leave them "pure". Of course a "movie" path can be used for 2 channel and then it becomes a case of "Well, if we're going to mangle the audio anyway, a few dB of SINAD should not matter".
I'm almost thinking of just using the analog out of the OPPO 205 and feed it's HDMI input with an OPPO 203's audio HDMI signal through a nanoAVR-DL. That way I can swap between Dirac and "pure" on all 7.1 channels, even though it might really only matter for stereo. Basically use the 205 as a preamp, mostly.
The more I think about this, the more I like the idea: Granted: $1500 for an OPPO 203 as well, but $6k-$9.6k saved on a preamp not nearly as good -- money that can go to speakers and power amps.