Spent some time with the pre out by now.
It´s definiatly not transparent but it gives exactly my speakers the colouration it needs. They are of the neutral type which is great for movies, games but just a bit to booring for music.
The LCD-2 was much preferrable over my speakers when running over my RX-V663 directly. Now I am not that sure anymore.
My speaker system is very modest bang for buck system I might add. Yamaha RX-V663 and some XTZ 89 5.1 system.