So do have a 5 speaker setup here, or just 2....
BTW can you post what Philips receiver model you have.
If your only trying to drive 2 speakers your in fine position, if your trying to run a 5.1 surround type scenario then you may want to start taking a look at newer recievers, all your components are capable of 5.1 surround output either by HDMI or optical... and you only have 1 5.1 type input (optical)
There are no other orange type RCA inputs on that unit...?
Oh and one other thing.... Most Bluray Players I know of play DVD's which eliminates the need to have a DVD player at all, so that eliminates the need for 3 units instaed of just 2, BluRay - and Direct TV.