My player doesn't have any settings for bass management, so my receiver would be doing that if it was doing anything. I know it was level-matching, as it is capable of doing that for the analog inputs. My receiver was definitely doing bass management for cds and dvds, but I think, as Adam pointed out, that it couldn't handle the 96 kHz input from hi-def discs.
I could hook up an extra Polk bookshelf I have laying around and say

to Highbar, but I'd rather run a phantom center and use DD and DTS. I think they still sound pretty darn good.
I'd really like to know if my receiver was bass-managing the PCM input. In some brief comparisons on U-571, I though there was a bit more bass using optical but I had attributed it to not being able to switch inputs and back up fast enough. Maybe this could explain why some people say that bitstreaming sounds better than PCM? I might give Marantz a call and see if their tech people can shed any light on the issue...