I think you have two options. Both involve getting a player that can internally decode HD-Audio.
1) Get a Pioneer BDP-51FD. Extraordinary performance for <$300 USD. I think it might have a different international model number, but you should be able to find it.
2) Wait another month and see all the new players. Panasonic's BD60/80, Pioneer's BDP 120fd/320fd, and Samsung's players all look pretty good. I'm pretty sold on the Pioneer, myself. Almost all players are coming out $300 for the base model, and $400 for the players that would have analog outs.
I'm anxious to see how load times improve for the '09 players vs. last year's players.
Also, if you use analog outs (which you shouldn't, since you have a very capable HDMI receiver), you won't be able to use MCACC settings. Most receivers take the analog input around those eq's and such to keep the sound cleaner. So you would need to mimic MCACC's settings in your player, and not all players have such great tweaking as your receiver would have. I think a lot of the players coming out will have distance/delay + size + crossover settings, but probably not as tuneable of an eq.