All of these codecs are "compressed", with the lossless compression algorithms being, well, lossless.
All is needed is an unzipping (like a file on your computer). Now, those who are much more brainiac than me like MDS, would say it's still technically decoding, but unzipping as a basic concept still works.
Any of these codecs, whether lossy or lossless, need to be unzipped to get the mch PCM. Why aren't codecs just recorded as mch PCM to begin with? Because of the greater amount of disc space it takes.
Once the receiver has mch PCM, it outputs that to your speakers. It has to turn into PCM somewhere, player, receiver, etc. But as long as it happens, you've got it. Of course there are many BDs that are just recorded in PCM to begin with.
So your PS3, if a relatively new one, can output bitstream (not yet unzipped, to be done by receiver), or as pre-unzipped/decoded.
It was just a lil lesson. TBH, it would actually be hard to find an older version than 1.3 anyways, perhaps even on the used market?
Have fun.