I have an older 5 channel processor (Anthem AVM-2)with of course no HDMI inputs. I would like to continue to use it.
I have the same pre/pro and love with no intentions of abandoning it any time soon.
For us to get the best of both worlds we need to send the video directly to the display via hdmi from the BD player and use the analog outs from a player that decodes the new codecs internally. Use the Direct inputs we have on the left rear of the AVM 2.
The trick is finding a player that can do ALL the new codecs AND has analog outs.
From my limited research there are only four nad two of them aren't on the market yet.
http://www.avsforum.com/avs-vb/showthread.php?t=980672
hope this helps.