Hi w8aaz, I am NOT an expert on this topic and we need someone to confirm my comments above and below. After some additional limited research, I found the following information (in quotes):
"Firstly, you will need access to the Blu-Ray Disc specifications, or an in-depth Authoring specification, to see whether there is a User Control feature to allow 24/192 in the free-and-clear. All the major labels DO NOT want such a thing, and prefer to limit digital outputs to 24/48. 24/96 can be made available as LPCM through DVD-V, but 24/192 requires the use of MLP and authoring as a DVD-A, and even then I am not sure that the disc can be flagged to output 24/192 (except via HDMI). The last thing the labels want is hi-rez masters being swapped like CD audio!
If such a control does not exist, you need look no further, as there would be no requirement for any manufacturer to support it in hardware. If it does, you can continue to search.
With regard to external DACs, there is nothing to stop a DAC manufacturer including a HDMI interface other than the added cost of the HDMI license. As HDTV continues to increase in market share, HDMI will become more prevalent, but don't be surprised if the high-end audio market continues to ignore it!
The major players only want encrypted interfaces for hi-rez audio and video transmissions. The 48/16 issues with the Sony via toslink is a result of DRM restrictions - part of the agreement on bluray was to limit audio output to 48/16 on non-encrypted liinks (ie toslink), so the Sony i playing at 96/24 but downsampling to 48/16 for the toslink due to this. If you have the gear, try playing over HDMI - your amp should report the input as the full 96/24".
My Comments: Based on my understanding, the higher resolution audio outputs can be output via HDMI (is this true?). Is it possible to use a blu-ray player, for example, the Oppo models, to output using HDMI to a DAC (or amplifier) that accepts HDMI (for example, the NAD Master M51 DAC)? Has anyone done this and does it work (I do not know)? I suggest you call Oppo and ask them if their models output full audio 24/192 out via HDMI. Assuming yes, you need a DAC (or amplifier) that accepts the HDMI signal and prepares it for input to your amplifier. I suggest you not sell your existing blu-ray player until you do some additional investigation. I hope my above comments help you solve this problem.
Or, I guess, you could replace your existing blu-ray player with the Oppo players (103 or 105), use the internal Oppo DAC, and output the audio signal to your amplifier using either the RCA or balanced (XLR) outputs. Can the Oppo models read your Pure Audio blu-ray disc and output a high quality audio signal to your amplifier (I do not know)? I do not know if this suggestion solves your problem so please investigate.
We need a hi-res audio Audiogon expert to comment on your question above and my comments. Please do not assume my comments above are 100% correct (I do not know).