I find that virtual surround works in a limited way. If you have your TV and couch set up so that there are walls equidistant from them, then it works. The sound that is supposed to be the "surround" will bounce off the walls and seem to come from behind you. If your setup is not like this, then some of those "surround" sounds will disappear; you just won't hear them. That's what I found with my old Sony TV, anyway. The virtual surround is mildly convincing, but it's nothing compared to the real thing.
cheers,
supervij