Use the digital out on your cable box, you'll get better quality that way. But indeed, you can have the BD player decode the HD audio internally and output it as analog on the 6 or 8 jacks on the back. You'll have to set your crossover point and speaker distances in your BD player, because the receiver when using the multi-channel, analog input will only be actings as a pre-amp and then passing the unadjusted signals on to its internal amplifier. It's a toss-up whether the receiver will apply individual channel trims though, you'll have to run a test disc through the BD player and check the levels with an SPL meter to find out where you need to do the trims.
