The Bridge will keep everything in the digital domain until the signal hits the receiver's DAC; however, since you're using a stereo receiver, the comments about features like bass management are moot, and it becomes a comparison of DACs. I've not tried the output of my iPhone directly to my receiver, but I've used an Apple Airport Express, both with an analog output and a digital output to an HK receiver without noting any significant shift in sound quality. Then again, YMMV.
