Ok, but now you have two connections to the TV - one HDMI for the DVD player (going thru receiver first) and one component for the cable box, right?
That's fine if you are ok with switching inputs on the TV.
Why don't you just ditch the HDMI and use component video cables for both dvd and cable box, with digital audio from both going to the receiver, and then component video to the TV. Then you get back the switching capability of the receiver.