I would agree that HDMI is not a necessity. Mulitchannel out from a high quality Blu-Ray player can sound fantastic.
For video, HDMI does offer some very real benefits though, but no need to route that through a receiver anyway... best quality will be directly from source to video (TV or projector).
I have decided to skip out on HDMI audio since I love the sound of my Krell HTS7.1. I route all HDMI through my DVDO video processor. For BR, the HDMI video is passed through the processor (nothing but a switcher then) and sound through multichannel RCA. Sound is glorious!
For video, HDMI does offer some very real benefits though, but no need to route that through a receiver anyway... best quality will be directly from source to video (TV or projector).
I have decided to skip out on HDMI audio since I love the sound of my Krell HTS7.1. I route all HDMI through my DVDO video processor. For BR, the HDMI video is passed through the processor (nothing but a switcher then) and sound through multichannel RCA. Sound is glorious!