newbie audio question about old receiver and lossless

[nmycon]

Hello

Don't post in this forum too often, but having read a thread yesterday "blu-rays aren't worth it without lossless audio" or something like that...

I have a Yamaha RX-V365. Not the best, not even close. But I got it pretty cheap and wanted surround sound. Unfortunately, I still have not hooked up more than 2 speakers and I can now get a cheaper receiver that supports audio over HDMI for about what I paid for my Yamaha...

Anyways, I read somewhere that any old receiver can support lossless audio over analog (using the Multi-Channel inputs) assuming the audio has been decoded first...

So my question is, is there any way to get the PS3 to decode the HD audio and send it in stereo analog to the receiver?

Thanks for any info, just a wild thought :P