Do all 5.1 amps have bass redirection circuitry that eliminates virtually all bass from the front speakers and directs it to the subwoofer?
Firstly, it's not bass "reduction," it's bass management. You'll end up getting more bass of better quality by using the subwoofer. And it's always optional, you don't have to use it if you prefer.
If so what's the point of having an all range front speaker?
I'd doubt that you have "all range" fronts unless your speakers way outclass your receiver and can extend down to 18Hz +/-3dB. A better question would be, why would you have a subwoofer if you didn't plan on using it to reproduce your bass?
A sub extends lower in a more linear and distortion-free fashion, can be moved to the best spot in your room for producing bass (which is almost never the best spot for placing your fronts), and has its own amplifier to handle the toughest-to-generate frequencies (lessening the load on your speakers and receiver greatly).
If there are amps without this feature which ones would you recomend in the $300 - $500 range?
You can always turn bass management off. But you're unlikely to find a receiver that doesn't do it since turning it off is just the wrong way to set up a home theatre.
Have a read of
this.