Sure: you have to have a bit of technical wherewithal to find out what the phase relationships are. However, if you do develop those skills, you can save yourself some grief, and also be able to do "stupid mixer tricks" like this to amaze and amuse your friends... (;-)
It's not always easy: as you point out, with complex pro gear sometimes it can be mind-numbingly hard, unless you have access to, or can borrow, a 2-channel oscilloscope for a weekend. But just the same, if by some mischance a few readers here *are* technically inclined, it can certainly pay dividends for them to get that familiar with the behavior of their own (usually simpler)equipment. I always like to encourage folks to improve their techie chops: it makes me feel less lonely over here in the nerd camp, especially since I'm really just a drummer (;-).
The easiest way to do M+S is to buy hardware with the M+S matrix built in, to be sure. But there are people who frequent this site who are either so poor (or so _tight_!) that they try to reuse *solder*... For them, the alternative of hacking around to do the poor-man's tricks is a way of life. And some just like the challenge as part of their home recording/hobby experience. That's just a part of life hereabouts...
So many folks have talked about using insert steals as cheater direct outs, in threads here over the last couple of years, that I thought it'd be good to bring up that cautionary tale. Easy way to tell if your insert sends are out of phase with respect to the channel inputs? Patch a signal to the line in on a channel, and route it to a bus. Patch its insert steal to another channel's line in, and put it on the *same bus*. Bring up the first channel fader, leaving the second channel down. Then, bring up the second. If the signal from the bus gets _quieter_ as you bring up the second, the send is out of phase (the in-phase and out-of-phase will cancel each other as the second fader comes up). For the purposes of playing this particular poor man's game, this can tell you a lot- and no test equipment is needed, other than the Mark I Earbone.
June, 2001 for that preamp, eh? Is it out, or is that a typo? And if it's not out, do you need beta-testers? I've got a live recording date coming up Dec. 1 that just cries out for some M+S work, and the Truth 8-ch pre with M+S was too rich for my blood...
I've got a little bit larger gear budget than many folks here, but the accountant in me rears his ugly head from time to time just the same!