I had the HD-A1 player for a few weeks, last month, and it was quite pleasant to use. I returned it because I'm not one to build a movie library. My DVD collection, except for 2 movies, is entirely music concerts and that appears not to be in the works for HD DVD for the next few months.
As for new sounds and the new codecs:
My first discovery was multichannel 5.1 analog and once I calibrated the speakers and the bass management in the player, I found that to be a very enjoyable listening experience with CD's and with certain concerts such as Diana Krall's "Live in Paris".
I bought HD DVD movies Serenity and Apollo 13 and listen to both in DD Plus (only new codec available for these two movies) using multichannel 5.1 analogs and then, using SPIDF, the DD Plus bitstream is treated as if it was DTS because of the 1.5 Mbps audio bitrate. In both cases the sound is more real, richer than normal DTS or DD.
With the multichannel 5.1 analogs movies in DD TrueHD can be heard in Stereo, at this time, and in DTS-HD core in 5.1. Perhaps a future update for the player will give access to DD TrueHD in 5.1 and to lossless DTS-HD.
Today I accessed the online owner's manual at:
http://www.tacp.toshiba.com/dvd/product.asp?model=hd-a1
(press "Resources" the "Owner's manual" 4.0 Mb PDF)
and went to page 59. There seems to be a change for HDMI. With the manual that come with the player in May, I don't recall seeing the qualifier: "Depend on HDMI receiver" for setting "Auto" (but, I may be wrong). To me that implies that the receiver must permit certain functions when set to "Auto" (if even possible). Otherwise, the HDMI setting in the player should be set at PCM or Bitstream. But I'm sure the qualifier is not suggesting that the receiver must carry the new codecs.