Michael, if you're going to use the PS3 as your SACD player you don't necessarily need a receiver with HDMI 1.2 capability. A 1.2 receiver could process one-bit DSD material input from a SACD, but that isn't what the PS3 outputs. It converts the DSD from the SACD to PCM and outputs it on HDMI, so the receiver doesn't have to have the capability to process the raw one-bit data from the SACD. HDMI 1.2(or 1.3)wouldn't be necessary and you could also choose from HDMI 1.1 receivers.

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Enjoy the music, not the equipment.