Pioneer VSX-1016TX + Sony BDP-S550

[Imperial1]

Hey guys, I'm new to the forum and this is my first post I've tried searching but haven't found the answer I'm looking for.

Anyways, I currently have a 7.1 setup at home and my receiver is the pioneer vsx-1016tx. It's a 7.1 receiver with HDMI pass through however it's for video only, not audio. (When I use HDMI, I gotta use an optical/coax cable for sound as well)

I'm looking at picking up the Sony BDP-S550 mainly for the built in decoder for Dolby True HD/DTS HD/MA and I'm wondering:

1. In order for me to get 7.1 DD True HD/DTS HD/MA from the Sony BDP-S550 to my speakers via my pioneer vsx-1016tx, I have to use the analog out on BDP-S550, correct?

2. Since my receiver doesn't accept audio through HDMI, I cannot use HDMI to get 7.1 (I know it's a dumb question but i have to ask just to make sure)

3. Is there any drawbacks to using the analog outputs instead of HDMI?

4. I've read that when using analog ouputs, you have to raise the LFE settings on the receiver for the subwoofer to get proper bass. Does that mean when I switch between using components that use the analog output (i.e. the BDP-S550) and components that are hooked up using optical/coax connections (i.e. PS3), I gotta keep changing the LFE settings?

Any help would be appreciated. Thanks in advance!