Hello Stereoguy99
I have a receiver that does not decode the new audio formats so what I did was hook my Panny BD55 to my receiver through the multi-channel analog hookups as well as through a digital coax cable. Now what I do is for Blu-ray movies is use the multichannel analog so my BD55 can decode the DTSHD, Dolby True HD formats. For DVD's I switch my receiver to "DVD" and let the receiver take care of the bass management and decoding the Dolby Digital and DTS formats (coax cable).
IMO you do not need another receiver. The great thing about this is with the BD55, when switching inputs from multichannel analog to using the digital coax you do not have to change any menu settings like you have to do with some other BD players, just have to switch inputs.
