For the life of me I don't know why everyone has to make things so difficult.The system you have in mind will work perfectly so just stick to your original plan & run an Toslink from the tv to a nice little all in 1 like the Wadia or a Peachtree Audio & enjoy.
I have a Peachtree Audio MusicBox with Sonus Faber Toy Monitors for PC based audio,I also run a Wireworld Glass F/O Cable from TV to the MusicBox for video & it sounds AWESOME!
I have a Peachtree Audio MusicBox with Sonus Faber Toy Monitors for PC based audio,I also run a Wireworld Glass F/O Cable from TV to the MusicBox for video & it sounds AWESOME!