If the player is set to downmix and output in stereo, either via digital or analog, the LFE should be included (I am not 100% sure of this, but it should be downmixing all channel). For a 2ch only system, this is what you would need to do to get a full range signal out of the analog RCAs to a stereo reciever, or select the stereo option within the disc itself. The stereo receiver will handle signal output to the sub, but that will not be a true ".1" like an LFE channel.
If the player has multichannel analog outputs, you CAN set the player to sub = none and mains large and get the LFE sent to the mains, however you would also have to set all of the other speakers to none as well, in order to get a stereo only signal via the R&L RCAs.