I think HDMI has the potential to transmit audio just fine. My Integra DTC 9.8 works well in decoding HDMI audio. Most pre/pro's provide the option of both HDMI and multi-channel analog inputs; why not try both and see which sounds better to you? HDMI clearly has the advantage in using fewer cables, and as an all-digital solution offers better opportunities to using room correction, as you alluded to.
Michael
Michael