I have tried it both ways on more than one occasion and have never seen a signal degradation issue ever. I think if you want to simplify your system, then it may be worth a few hours to hook things up and see how it looks to your eyes. But, I haven't heard a single person who has hooked equipment up through an A/V receiver actually make a claim that video was affected. Especially with newer A/V receivers.
I find that A/V receiver reviews that don't include video information are missing out an entire portion of what A/V receivers are supposed to do. The entire V section of that receiver! I would hook it up through your receiver and enjoy the added convenience and be one of the millions who don't see any problem doing it that way.