I always listen to CD's in DIRECT or STEREO, either way it's 2-channel.
I have occasionally experimented with Neo:6 and PLIIx but neither sounds realistic at all.
I do love listening to a good multi-channel mix like Billy Joel's "The Stranger", Dire Straits "Brothers In Arms", NIN's "The Downward Spiral", Toto "Toto IV", etc., on SACD, but the severely limited selection compared to the vast amount of 2-channel selections that are available on vinyl have resulted in a drastic shift back to 2-channel listening for me since I picked up my turntable last year and it is certainly a wonderful experience to listen to records again.