I have a chance to buy a used Yamaha RX-V1500 (before HDMI) for around $100 to replace my Technics in my 2nd system because I need more inputs. I know buying something without HDMI isn't generally a good idea but I have the following considerations;
1) any dvd player I will get to replace the combo dvd/vhs player will be another combo player. I've never seen them with HDMI nor have I seen a combo bluray/vhs combo player.
2) if I decide to forgo the combo player and just get a bluray player, I will be able to connect teh HDMI output to the display (assuming the old 32" CRT kicks the bucket) and use either an optical or coax output which still is available on some bluray models. I know it won't be lossless but its a secondary system and I will never have optimal speaker placement anyway.