There is no such thing as an analog home theater when using digital medium.
DVDs and Blu-Ray (and CDs, SACDs and DVD-A for that matter) are all digital mediums. There has to be a digital to analogue conversion (DA) to be able to hear the soundtrack/dialogue. As has been pointed out above, all you are doing when you are running audio out of the analogue outputs on a player is pushing the DA conversion up so that it happens using the DA Converter (DAC) of the player. Alternatively, when you output the audio over HDMI, SPDIF or Toslink, then you are pushing the DA conversion down into the DAC in the processor.
DVDs and Blu-Ray (and CDs, SACDs and DVD-A for that matter) are all digital mediums. There has to be a digital to analogue conversion (DA) to be able to hear the soundtrack/dialogue. As has been pointed out above, all you are doing when you are running audio out of the analogue outputs on a player is pushing the DA conversion up so that it happens using the DA Converter (DAC) of the player. Alternatively, when you output the audio over HDMI, SPDIF or Toslink, then you are pushing the DA conversion down into the DAC in the processor.