I am sure Meridian of the past (and possibly of the present) could improve the SQ of the 861v8 but to what end?
The multichannel market would surely baulk at any SSP without the support for the latest and greatest cinema-oriented sound codecs. Multi-channel music (in the discrete sense rather than Trifield, etc.) has never taken off as a desirable medium despite the efforts of the DVD-A and SACD designers and supporters.
So an 861v9 would not really offer a compelling USP over an 861v8 except for those who have already invested in the 861v8 and are prepared to pay for the upgrade - thus I cannot see it generating new sales of new kit. At that point the case for MQA on all (or at least two) channels could be made but you quite reasonably exclude it from your question.
The apparent end of development of the 861 series at v8 and the reported disparity in SQ compared with the 818v3 are what stop me buying a s/h 861v8. I have persuaded myself to be content with a G68 while considering how best to integrate it with an 818v3. Movie soundtracks are (IMHO) not about audio fidelity but instead are about dynamic range, impact and positioning. Do we believe that an 861v8/all DSP system is significantly better at those things than a lesser Meridian SSP? An analogue speaker system would I expect be a different matter.
Of course I would like Meridian to bring a v9 upgrade because it would show commitment to the legacy ethos of the brand and loyalty to customers as well as, no doubt, delivering great SQ. The price could be challenging as it would involve new A/D cards on the input, new processing cards and software and optionally new D/A cards for analogue speakers. That together sounds like £3,000+ but if I was already in an 861v8 place it would be acceptable. But the price of a new 861v9 would then presumably approach Trinnov territory without the Trinnov features?
Interesting question 3dit0r - thanks for making me think.