I think the key test for optical is does 100% of data pass thru or not.
Same goes with coax, except that coax potentially could pick up rf noise whereas optical cannot. That's why optical is the most used method to transfer data from one continent to another, around the world.
The reason why we have HDMI instead of optical is cost of implementation, because yes you need a set of converters.
For CD, up to 24/96, optical is my choice, because it really does decouple transport and DAC. Mono POF preferably since there's only two light waves.