I believe the SP3 will be much more accurate to what we can really expect from HD audio.
The SP2 is a great pre but compared to the powerful MC12 it just can't compete at the same level on HT.
I find the SP2 to be better on the 2ch analog part on the other end.
That's why i seek a 2ch pre to add to my system (probably a ML 26S or 380).
I didn't tried the MC12 on "pure" analog mch because i don't see the point, the MC12 is one of the faster calculator i have ever heard (5 DSP chips 32 bit inside !) and it gives you the possibility to digitalize the analog 5.1 in. It works just wonderfully (once you're back in digital... you can process whatever you want at 96/24, including EQ, bass management, levels, distances, 7.1 processing + all DSP aso and then at the end you get a final upsampling at 192/24).
It's just

I've had an MC8 lended and tried it versus the SP2 on 5.1 analog (well you can force the MC8 to duplicate sides in order to obtain 7.1 out... not fair for the SP2 but that's a point for the Lex).
I found the MC8 to be more revelant than the SP2 on the mch analog part, using HD audio.
Even if i don't find the MC8 to be an interesting pre (no EQ, no upsampling available + no A/D possible with the analog 5.1 in...), if anybody is interested by Lexicon... go for a MC12V5EQ (no HDMI needed) or stay with what you have, i will say

PS : yes, Europe -> France (Paris), so i get a LX91