Originally Posted by Jeff Gatie

Nick, one more time - Multichannel PCM is what the HD formats are decoded to by the player or the receiver. No matter which device does the decoding, the result will sound EXACTLY THE SAME!!!! There is no reason to purchase the Onkyo 605 except (1) to handle the HDMI audio which is required to pass Multichannel PCM if you do not use the 5.1 analogs and (2) futureproofing.

Multichannel PCM cannot be passed via optical or coax, you have to use HDMI or analog 5.1's.

So again - To take advantage of the new HD audio formats you need:

1) A Blu-Ray or HD DVD player that is capable of processing the HD audio (not all Blu-Rays can do it, all HD DVD's can, except no current player will process DTS.HD Master Audio)

2) An A/V receiver that has at least 5.1 analog outs (requires the player to have 5.1 audio outs, not all do).

- or -

3) An A/V receiver that handles HDMI audio.

For future proofing only, you can buy an a/v receiver that decodes the new HD audio formats. A receiver like this will take care of everything above and anything in the future.

That's it, that's all you need to know. It's simple, really.