blu-ray coaxial outputs limited rez to dacs?


I have not been here so long I forgot my login!  Anyway, is it impossible to get the hi rez audio from a typical blu ray on the coaxial audio output?  Got ahold of a Pure Audio blu ray disc of music.  Supposed to be 24/96 format.  My player is putting out only 16/48 into the dac according to the dac display.  So I went into player menu and made sure the "downsampling"  selection was in the off position.  Still, only the lower rez data showing up into the dac.  So does that mean I would need a mega bucks blu ray to get the actual hi rez or what?  The dac oversamples it up before decoding but is supposed to be happy to accept stuff up to 192/24 I think.
w8aaz
The Vanity HD is the only thing I'm aware of that will output in native resolution any source. Including SACD/DSD  
Unless you want to use the analog outputs, I think you have to use HDMI for full resolution DVD-Audio, and Blu-ray lossless codecs such as DTS-HD Master Audio and Dolby TrueHD.  You need a receiver or processor that has the appropriate decoders. That's why I went HDMI after getting into HD-DVD and Blu-ray.   However, with these new Oppo players such as the 103 and 105, their DACs may be better than those in many receivers, and analog may be the way to go if you want to fool with all the cables.