I'll second the time alignment... once you have heard how well it cleans up the sound, it's hard to imagine going back.
I use the JBL MS-8 DSP fed by a USB DAC. Stereo only in, and the DSP takes care of the rest, including fader. balance, etc.
Before looking into time alignment I was set on the Clarion EQS746 EQ because it can take stereo in and seperate into FL FR RL RR and subs, and still give the clean sound output that the USB DAC feeds it, to your amps. Only $60 too, but no time alignment. Did I mention CLEAN output?