Outlaw Audio 1050 totally obsolete?

My Pioneer 810 finally died this weekend, and I'm in the market for a replacement. After the four years of owning it, I found myself using stereo more than all of my speakers. My question is: Is the 1050 capable of decent stereo, yet still have the capabilities of a surround sound reciever?

Nothing can be obsolete if your primary objective is 2 channel listening and 5.1 for HT. The 1050 should still be OK in my opinion.