I have a question

[CH108]

Consider this:

My current system consists of my panasonic BD30 being plugged into my home theatre out of a box which only does Dolby and DTS through a optical cable.

Any BD's with HD audio I have to set to PCM on the player and I think that gives me two channel down converted Dolby or DTS depending on the codec.

The reciever of the home theatre in a box has 5.1 analouge inputs.

If I bought a Panasonic BD50 and set the player to decode would I be able to get 5.1 HD audio if I made a connection using the analouge input/outputs between the player and the reciever?

Any advice would be greatly appreciated, I would rather go this method because of the size of my bedroom and the cost of buying an HD audio reciever and new speakers.