I would tend to agree with what you're saying here. I doubt the Denon will be as happy to deliver the power required with the same immediacy as the A23.
To be clear, my response to highfigh was only about using AVR as preamp (not even prepro) vs the P5 and only if look and pride are not the issue. However, in case you are curious, I do have some lab measurements for the Denon AVR-3805 and A21 and the measurements were done by the same lab. Unfortunately I found no comparable bench test results for the A23. The A23 is not as powerful as the A21 but it should still easily beat the Denon, though probably not by a very wide margin.
Ohms Denon AVR-3805
8 164.4W @ 0.5%
4 307.5W @ 1.1%
2 299.9W @ 0.9% (Dynamic)
1 160.3% @ 0.8% (Dynamic)
Ohms Halo A21
8 290.8W/292.8W @ 0.5% (L/R)
4 477.7W/510.1W @ 0.1/1.0% (L/R)
2 Dyn output into 1 ohm (Failed)
When you use a 7 channel AVR as a 2 channel preamp, the power supply will only have to feed 2 channels. Denon and Yamaha seems to have very stout amps while Onkyo, HK and NAD tend to have larger power supply transformer but not as robust amp section, relatively speaking.
Again, I realize this is off topic (my apology to the OP) and I only brought up the 3805 when highfigh mentioned he heard some hiss from his speakers when using the A23. I just want to clarify the point that I did not compare the Denon AVR-3805 to the A23 at all. There really should be no comparison in performance between a mid range AVR and a near high end power amp.