I'll abandon my other post and add my experiences here. I was really suprised to find very little information on the best way to connect speakers to the M1 and ELK-120. Even the Elk web site was not helpful about how to do this. Maybe everyone is just using a mixer?
Anyway, last night I hooked up the Elk-120 (with a little chat-room help from electron) for the first time and simply plugged the 120 speaker output into the M1's output #1 terminals which already had all the speakers connected to it. In other words connected both the Elk M1 and the Elk 120 in parallel to the speakers. Everything seems to be working just fine without any capacitors or resistors.
ToddB, check earlier in this thread for a link to doorbell chime files. I was able to play them on my PC speakers and record them through the on-board mic of the Elk-120 with sufficient clarity that I didn't need the Elk-129 (Computer sound card interface)
robolo