The Denon has a Direct function which bypasses the digital influence to a degree. It’s obviously not a true analog stereo receiver, but I’m a bit confused about what you mean by “stereo amp with HT bypass.” Did you mean like the “Direct” function of the Denon X6300H?
Also, has anybody tried to use the integrated phono amp on a higher end Denon, such as the X6300H? It’s not a flagship product, but was toward the top when it debuted. Obviously Denon is not high end, but we ARE discussing a sub $200 product.