For movies I definitely appreciate having a dedicated center as opposed to a phantom image, especially so when there are guests over.
I like the effect of the sound being anchored to the screen, feels more theatrical imo.
That being said I'm still partial to having at least two additional speakers at the rear of the room for that "next level" of ambiance that I feel stereo & 3 channel fall just shy of.
That's partly why I've grown to appreciate what virtual surround modes [aka re-channeling] are capable of.
I get a remarkable sense of space & envelopment but the directional sound is all on-screen.
Of course purists pretty much reject any "tampering" of the "director's intent" but for me it's generally a more satisfying experience.
Sincerely, the frugal audiophile