I've tried them all - analog vs digital, PCM vs TrueHD vs DTS-HD MA vs DD vs DTS, etc.
When DTS-HD MA came out, I had to spend $2K on a blu-ray player that could internally decode & bitstream DTS-HD MA.
These are a few of my observations:
1) Within the Same disc (BD) and Same language (English), DTS-HD MA usually sounds exactly like DTS, but the Loudness may differ.
2) Within the Same disc (BD) and Same language (English), Dolby TrueHD usually sounds exactly like DD, but the Loudness may differ.
3) If your receiver cannot decode Dolby TrueHD and the BD only has TrueHD, but does not have DD 5.1, then you will only get DD 2.0, which sucks.
4) Within the Same disc (BD) and Same language, DTS-HD, TrueHD, & LPCM usually sound exactly the same, but the loudness of each may differ.
5) I usually personally prefer DTS-HD MA & DTS over TrueHD & DD just because.
