blu ray coax out


If I run Coax out from a blu ray player to a dac, with the player decoding the lossless formats (dolby true hd/dts master audio) to PCM, to a 2 channel system (the 5.1 mixes downmixed to 2 channel), will the dac receive the lossless tracks or the lossy core?  And a related question: will the audio be down converted from 24/48 to 16/48?  thank you     
majorc
You need to tell your blu ray to output PCM and downmix. Your DAC won't know how to handle it. 

If you run the coax out to a HT receiver you can do 5.1 or 7.1 but you are limited to the DVD specs. 

I'm not sure how lossy it will be either way. 
HDMI is the only digital connection that can transmit those lossless formats (Dolby True-HD & DTS HD-Master Audio) from bluray discs to the full resolution (26/48 or 24/96).
If you use coax or optical digital (Toslink) out it will down convert it to lossy core (16/48).

On your bluray player you will have to change the setting on the coax output to PCM. 
thanks - am I correct that the reason coax down converts is not due to bandwith limitations (my legacy dac which uses coax is 24/96) but rather a protected audio path issue? If so if I use my computer to play blu rays with any dvd hd (a decrypter) I should be able to transmit lossless via coax (actually a usb to spdif converter)?
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