Correct. It's all in the spec.
If the player converted the audio to a PCM stream so nothing else had to do decoding why would you need HDMI 1.2? Doesn't HDMI 1.1 allow you to pass PCM streams [even multi-channel streams]?? Is there something that I don't know about SACD that makes it special to where the player can't decode the audio stream to PCM to pass to the receiver via HDMI 1.1???
Or is this one of those things that there aren't any players that will do this so in reality you simply need HDMI 1.2?
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I will try to do some googling to educate myself but responses here would of course be appreciated.
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EDIT: Update ... OK I guess that SACD uses a 1 bit data format at a huge sampling rate and I also guess that this doesn't translate into 16 bit PCM with a reasonable sampling rate easily. It sounds like it would be best [considering possible multi-channel SACD issues] to let the receiver do the decoding of the signal.
I officially stand corrected ... unless the above correction is wrong