I suppose you have a Home Theatre Receiver. You need two HDMI cables, connect one HDMI cable from your BD Player's HDMI OUT to your receiver's HDMI IN, then connect another HDMI cable from your Receiver's HDMI OUT to your TV's HDMI IN. (Just make sure when you are viewing BDs select the correct input on your TV, and select your receiver's input to 'HDMI IN').
You're good to go mate!
Whether or not your receiver plays various HD audio streams really depends on your receiver's capabilities, also if your HDMI is v1.3.
