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Be careful. :) In the strictest sense, 5.1 analog will get you the best audio quality, but keep these things in mind: Can the receiver do an A to D, then process the signals, then back to analog for output? (Some can, most don't.) The reason being, if you only do 5.1 analog, you then have...

Optical (or coax either) won't transfer high res movie soundtracks. HDMI will, and of course, 5.1 analog will. Optical will only get you 2 channel 16/44.1 PCM for CDs, and multichannel DD and DTS, but not the new higher res DTS or DD formats from Blu-ray or HD DVD.