.
On my 445, with considerably less power than the 346XP, I use the semi-chisel microlite setup for dirty cutting, and a Oregon 20LPX chisel for clean cutting. Even with the wider kerf, the 20LPX outperforms the microlite. I'd imagine you'd get similar results with the 346XP.
It would be nice if Oregon made chisel microlite chain, but having different bars dedicated to chisel and semi-chisel is probably better, since it avoids running the clean chisel chain on a bar rails worn in dirtier conditions, thus keeping the load-bearing surfaces of the chain truer. At least this is what I've noticed.