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
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)?
I tried doing this, but unfortunately, the main circuit burst. So, I recommend you to do this with a good technician and if you succeed then please help me in doing that too. Thanks in advance for your help.
I tried doing this, but unfortunately, the main circuit burst. So, I recommend you to do this with a good technician and if you succeed then please help me in doing that too. Thanks in advance for your help. Thanks and Regards,  3ds emulator Cartoon HD droid4x app