As long as the receiver supports LPCM audio over HDMI you're good, I wouldn't pay extra for the HD codec support in the receiver, especially when paired with a PS3 which does a perfect job decoding on it's own. But I would not get a receiver in this day which had no HDMI audio support at all.

Pioneer PDP-5020FD, Marantz SR6011
Axiom M5HP, VP160HP, QS8
Sony PS4, surround backs
-Chris