Be sure that you purchase a receiver that is not just a pass-through which means it will process the HDMI video signal, but not audio. In this case you will need optical or coaxial connections from the source to the receiver.
I would have preferred being able to switch the both audio and video signals through HDMI alone that way I could have both my HD PVR and 360 connected by HDMI. Currently I have the PVR connected by HDMI and coaxial digital audio and the 360 with component and digital optical audio.
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Behind Enemy Lines in Edmonton
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