afir 4 chan would be two y's (2xL 2xR), one on Line-Out one on Rear (or if you have them seperated, a converter on left and right rear)
2 chan would be cheaper, and if you a decent budget would allow you to splurge on a really nice amp. However 4 chan would give you a much better experience.
I don't know if 2 channel amps are cleaner, or more powerful typicly, but i know they are typicly cheaper, but you can always add in a second amp later for the rears if you really wanted to
edit: ok, i just re-read your splitter situation, if you were going to run with that i'd go with a two channel amp, line-out only has a left and a right, so unless there is a quality or other reason to opt for the 4 chan you don't stand to get any surround sound etc.