A benefit of decoding the DVD-A/SACD formats at the receiver/pre/pro is that, unlike universal players, receiver/pre/pros will NOT drop the LFE channel when set up as having NO SUB, but will "properly" reroute the LFE channel to the LARGE fronts. This can allow for a true 5.0 hirez system for someone interested in that sort of setup.
Currently, if you set up a universal player for 5.0 playback via its multichannel analog outs, with NO SUB, it will NOT reroute the LFE channel properly, but will instead simply drop it altogether.