From PC HDMI Nvidia 210(has audio capability already tested with TV) out to a receiver which will decode any format I throw as well as the the ability to have normal PCM stereo virtualised up to at least drive R+L+Sub.
Also accept HDMI form Xbox360 and probably a blue ray player later on.
Looking to spend as little as possible but don't want to shoot my self in the foot either! Would something like this do:
Any gotchas I should look out for?