If you have a player connected to a receiver via the usual 6-channel 'pass through' analog connections (where the receiver isn't doing anything to the signal other than amplifying it), and if *in the player* you have speakers set to SMALL and sub set to ON, then you will get bass management (bass subtracted from the small mains and redirected to the sub) regardless of whether the source is stereo or multichannel.
There appear to be many players that do not convert to DSD to PCM if speakers are set to LARGE; but an ongoing question appears to be , whether a given player uses PCM conversion when speakers are set to SMALL, i.e., when bass management is enabled. Another question is whether such a conversion makes any audible difference.
Brian if you have a local Tweeter or HiFi Buys in your area, have them do a store search for the 222ES - you may be able to find it for about $399. Or check Audiogon or Head-fi.org. It's a good player. I use mine with a pair of RS-1/RA-1 and IC's of JPS Labs Superconductor FX. Beautiful music to my ears.
I think the Philips 963 is a terrific player. It offers excellent SACD playback and upsamples CD audio. Amazon.com sold it, but it looks like they're not carrying it anymore. :frowning: