Well, first off if you don't own a Blu-ray player you NEED one now. They can be had for insanely cheap prices and solid performing ones can be had reasonably.
Now for pre/pro comments.
If their is a single piece of audio gear that has come outdated more times in the last decade than the pre/pro I can't think of it, and \ bet no one can name one. This leads to rapid devaluation and resale value, so buying a pre/pro that doesn't do the new codecs might seem a wise move now, but realize anything you buy without the new codecs or at least the ability to accept LPCM (HDMI 1.1 or later and the ability to accept audio as well as video as many early HDMI pre/pro's only were video relays) will be almost totally worthless if not now in the next months.
YES, you can run analog outs from Blu-ray to your pre/pro, though you'll then have further issues to deal with.
IF you need to do it cheaply, you can get the new audio codecs via analog and 'save' a ton on an older pre/pro (I recently saw a ML #40 for $5,900 on A'gon!) but any 'deal' you get will rarely be recouped.....
Then again, I have yet to even not lose money on a pre/pro in my career as an audio/HT fanatic......
Now for pre/pro comments.
If their is a single piece of audio gear that has come outdated more times in the last decade than the pre/pro I can't think of it, and \ bet no one can name one. This leads to rapid devaluation and resale value, so buying a pre/pro that doesn't do the new codecs might seem a wise move now, but realize anything you buy without the new codecs or at least the ability to accept LPCM (HDMI 1.1 or later and the ability to accept audio as well as video as many early HDMI pre/pro's only were video relays) will be almost totally worthless if not now in the next months.
YES, you can run analog outs from Blu-ray to your pre/pro, though you'll then have further issues to deal with.
IF you need to do it cheaply, you can get the new audio codecs via analog and 'save' a ton on an older pre/pro (I recently saw a ML #40 for $5,900 on A'gon!) but any 'deal' you get will rarely be recouped.....
Then again, I have yet to even not lose money on a pre/pro in my career as an audio/HT fanatic......