Yes, it will certainly do stereo 3 way, but I've heard quite a few comments that the sound quality is not really up to scratch......the old digital/analog discussion.
What do you expect for $300?
A lot of users use these to find the correct parameters & then build their passives from those settings.






I would like to get it close as possible the first time so the adjustments will be minor.As pano suggested I think a L-pad is almost mandatory when using a large format driver in a home setting.This is why I feel dual 416's are required to keep up with the 511/288's I have a 288/1005 right now on top of a 416B in a 612 cabinet and I can tell you I have to shelve the 288 all the way for them to sound good and they do.Extremely loud,same amount of power next to my 19's they are twice as loud as the 19's that tells me they are much more efficient than the 19's.Midrange is Awesome !!
I thought I would try to build the Best one I could and be done with it and hang up my Saw.On second thought Nahh maybe Not 
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