Question regarding Onkyo 674 and PCM audio

[beefytwinkie]

Hey guys. I currently have an Onkyo 674. It's an old receiver that does not support any of the HD audio formats. What it does support is this (from manual):

2-channel linear PCM (32-192 kHz, 16/20/24 bit)
Multichannel linear PCM (5.1 ch, 32-96 kHz, 16/20/24 bit)
Bitstream (Dolby Digital, DTS)

Now I know there are Blu-Ray players like the Sony Playstation 3 and the recent Sony BDP-S550 that will decode the HD audio in the player itself and then send the audio as PCM over HDMI to the receiver. That's fine and I understand how that works.

Now my receiver only supports HDMI v1.1 and I think TrueHD and DTS-Master Audio bitstreamed from player to receiver requires HDMI v1.3.

My question is, will my receiver be able to handle and output the HD audio in PCM format if my HDMI version on the receiver is v1.1? Will the converted PCM require the bandwidth of HDMI v1.3 cables since it's technically HD? I'm not sure what kind of cables I have but let's assume I have Category 1 and v1.1 HDMI cables. Bottom line: Will I be able to experience HD audio if my receiver only has HDMI v1.1 and my cables are all HDMI v1.1 while taking into consideration the supported audio formats listed above?

Sorry for such a long post to ask a simple question. I just hope I covered the bases. I've always believed that when asking questions more information is better than too little. Thanks guys.


-joey