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Does it logically follow then that if I upgraded my receiver and went HDMI that I would hear an improvement in the uncompressed tracks then by listening over the 5.1s (because the receiver might handle the decoding better than the player)? Not that there will be a receiver upgrade at any time in my near future...
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Theoretically, the lossless tracks should decode to the exact same bit-for-bit stream, whether decoded in the player or in the receiver (that's what "lossless" means). Now what is done after the decoding (D->A processing, any DSP's that are applied, etc.) is another story.