HDMI 1.3 does more then support higher quality audio streams. Bandwidth is increased to 10.2 GB. Support for 30, 36, and 48 bit color depths with several billions of shades of color compared to 16.7 million today’s sets have. Also has improved lip sync for audio with better specifications for compatibility between two devices.
Here is a picture of a front projector in Japan that uses 48-bit color depth with a HDMI 1.3 connector.
http://www.engadget.com/2006/10/11/e...with-hdmi-1-3/