Thinking of getting a PS3. Need some answers first.

[Zypher]

Hey, everyone! Been visiting for a while now just decided to register so I could join the comunity and have some fun. I wanted a PS3 for Christmas, because I knew that Blu was the way the HD war was probably going to go. But I could not get a PS3 so I settled for a Xbox 360 and boy do I regret it. I had to buy that HD-DVD add-on just to play HD-DVDs and then nothing I really had to have was released on the format. So now I am stuck with a 360 ( I have played it maybe 8 times since christmas), a HD-DVD add-on, and 1 HD-DVD and all this cost over $600. For that I could have had a PS3 and all my equipment would have been in one nice black shiny package. So now that Blockbuster is supporting Blu exclusivly , and since the movies I like are coming out exclusivly to Blu-Ray or on Blu ( except for Universal films, but it is only a matter of time before they go neutral ) I have no big reason to stick with HD-DVD. Some of my questions about the PS3 were:

I will be using an HDMI wire to hook the PS3 to my T.V., but I do not have a reciever with an HDMI port. So can I still run the red and white audio wires into my reciever, and get audio or is the only way to hear audio by using a HDMI wire? What kind of audio limitations will I have because of my reciever not having an HDMI port?