HDMI out on my Onkyo 805 ?

[NeverHappy]

Here's my dilema I have a Panasonic 50 inch 85u a mitsubishi hc1500 front projector and a panasonic bd-30 BR player. I hook the blu ray to my onkyo 805 but I only have one hdmi out where do I go from there - to the panny 85u or the projector? If I do Hdmi to the panny and component to the projector would the quality be noticeably lesser on the projector since it's not HDMI and a larger image or is it still going to look ok. Would an HDmi splitter work from the out to the other two keeping them both HDMI or does it reduce quality when you use such splitters or switchers?