You can definitely do what you want to do. Just a couple more details. Sorry, if this is too much detail.
For a TV or DVD separating the audio and video signals is fine.
If you have a 3D broadcast going to a 3D TV, you will need an HDMI cable between the satellite box and the TV. Component does not pass 3D signals. Then, assuming your satellite box only has one HDMI out, you would use a coax/optical cable to the receiver for audio. You should check with your satellite provider to be sure you can run video over HDMI and audio over coax/optical at the same time. My cable box does. If you do not need 3D, component video is OK for video signal.
If you have a Blu Ray player, you need HDMI to pass the high rez audio signals (Dolby True HD and DTS Master Audio) and you need HDMI to pass the Blu Ray video signal (1080P at 24 frames per second or 3D). So, if you want to run the audio directly to the receiver and the video directly to the TV, you will need 2 HDMI outs, which is not common for Blu Ray players. So, I think it would be best to use an HDMI solution, through the receiver, for the Blu Ray. Some Blu Ray players, like the Oppo BDP 93, do have 2 HDMI outputs.
A programmable remote is definitely the way to go That will make the split signal system use much easier. I use a Home Theater Master, but lots of people like Harmony. As you said, just be sure it is easy to do your own macros.