What is an HDMI input?

Hdmi is the future including the upcoming hi res dvd format/s.
Dvi was/is just a temporary connection...and HDMI does 10-12 bit video were DVI is restricted to 8 bit.
Always choose HDMI at this point on any new purchase if the option is there imo.

If I may blow some horn, I explain a bunch of terms for exactly this purpose at www.GreatHomeTheater.com, my website - it's written for those who don't know these things.

Something to keep in mind is that the HDMI interface supports HDCP which is copy protection. Without it you might just find yourself being DOWN-RESOLUTIONED by the evil forces of copy protection into a less than optimum picture. So that's a key consideration.

Please tell me how I can use spdif RCA to my Lexicon and bypass the audio portion of HDMI?

...from what source?

I heard that what we have now is HDMI 1.1 but that a more advanced HDMI 1.3 is expected soon (higher resolution 5.1 digital audio). Can anyone shed any further light on that? For me, it's the (all too familiar) hesitancy to invest in something now that may be outdated relatively quickly.