Kelly,
You may or may not have made a mistake, and if you have it's quite possible that you can remedy it without too much hassle. You certainly have nothing to lose by trying, but the sooner you do it, the better.
Is the amp still properly packaged? If so, leave it as such and see if you can get your money back. Then you can have a proper think about what the problem with the sound you have is, and rethink the approach to improving it - if in fact you even need to. Don't try anything with the amp for now, give yourself some breathing space. A decent retailer should take it back IMHO especially if you explain the situation - including offering the hope of a bigger, better purchase in the near futher, look really sad and start crying loudly on the manager on a busy saturday morning. This is obviously harder for mail-order / internet but the retailer should still have a returns policy that costs you no more than your postage and packing I would hope (I am not a lawer or a consumer rights specialist).
If it isn't still in its packaging then you can still see if you can get your money back. Try exactly the same approach in fact. If they won't give you your money back they might offer an exchange - possibly if you offered to trade in the other 640 as well they might let you have something else altogether, although I get the impression that the other 640 is your dad's so possibly that's not such a great plan. However if I remember correctly, considered opinion on the board was that a 740 would be a big step up istr.
If you bought it second hand then there's no reason at all that you shouldn't get your money back by just selling it on, assuming you haven't damaged it in anyway.
I you get absolutetly no joy at all from them, tell us and we'll send the boys around... Okay maybe not, but your final option is actually to try out using it to bi-amp - and try really hard to suspend both belief and disbelief. The number of ways you can hook it all up depends partly on whether you have pre-out/power-in connections which I don't know. But if you do one possibility might be to use one amp as a pre-amp and for the treble, and the other amp for the bass. This is exactly the same as when anybody adds a power to an integrated amp and there's no reason at all why it shouldn't give you some benefits. And be realistic - the outlay is way less than pretty much any power amp on the market, don't expect a miracle, but don't expect a disaster either.
Hope this helps some and good luck.
Jim