Player decoding or Receiver decoding, that is the question

[ungood]

yeah i knew about multichannel analog from the player but unfortunately, i have the panny bd60 which doesn't have multich. analog outs. i was just wondering if getting an hdmi receiver without the lossless decoders would work since i'd just be using the player to stream pcm (and save a few bucks from buying a receiver that i wouldn't need to decode with)