it is stated elsewhere in the forums, there are issues with current hdmi enabled devices (not necessarily all of them) there will be an update or 2 more for hdmi, although they claim backwards compatibility with the older hdmi, i think more than a few of us have a gut feeling telling us otherwise, or at least there will be even more issues with the backwards compatibility than there are using plain old hdmi right now. my advice is to hold off on buying a receiver untill hdmi is finalized if you are set on plugging in your hdmi sources through the receiver, (the prices will come down too)
right now there arent any low priced hdmi receivers (at least that i know of) the jvc is one of the cheapest but uses entirely digital amplifcation wich has issues of its own, (those being sound quality issues, and the listener ultimately decides how he/she feels if its an issue or not)
a viable route would be to purchase a receiver you like and use component signals, and when the hdmi b.s. is taken care of, get an hdmi switcher,
and using audio out isnt a great idea because you usually arent able to get a digital signal (coaxial or optical) out of a tv, it is usually just the analog L/R outputs.