DTS HD via Multi Analog vs DTS via Bistream

I want to ask if there is a big difference between DTS HD/Dolby HD through a multi channel analog out vs DTS/Dolby through a Toslink. I know that the toslinq will not handle the DTS/Dolby HD so it will be down converted.

I'm currently running my blurays through a PS3 ( I know I'll get drilled on this) and I only have a toslink connection to my NAD m15(hdmi is only video for this model).

I'm considering on getting a Oppo 80 (if I can still find one) or equivalent player with analog multi channel out with the HD being decoded internally by the Bluray player.
I will connect it to my Nad M15 7.1 analog input.

So how will the sound compare? Is it a huge enough difference to get a bluray player with a HD internal decoder and mutli analog out?
The idea situation is to have a reciever that will decode the DTS HD and Dolby True HD formats with the signal being transferred via HDMI.

The next best option is to have the blu-ray player decode the signal and sent it via 6 plus RCA cables to the receiver. This requires a lot of outputs on the blu-ray player and a lot of inputs on the receiver.

The DTS HD and Dolby True HD are called lossless because they are effectively not compressed. There is some type of compression done but when decoded it is fully restored.

The toslink can only carry two channels of uncompressed sound (i.e. Redbook equivalent) so if you use that for multi-channel movies you'll only get the compressed formats that could be compared to MP3.

Bottom line, huge difference. I had my blu-ray player setup wrong one time and my wife made me stop the movie to get it fixed since the bass stinked, yes stinked, when not playing the lossless format.
Huge difference. I had my NAD T773 receiver hooked up to my BD player with digital coax and it sounded better than my Onkyo TX-SR705 hooked up the same way. I then purchased a BD player with 7.1 analog outputs and hooked it up to my NAD receiver and played a track with DTS-MA and couldn't believe the detail improvement. I switched back and forth for many A-B comparisons and multi channel analog with DTS-MA and Dolby TrueHD won hands down.

Thanks Rcrerar, Mceljo, and Willland for all your input.

I'll wait for the OPPO BDP-92 to be release. I know that player have 7.1 analog out. I can't wait to hear the diffence in my system!

There's something special about blu-ray lossless audio. I find myself ignoring movies at times just listening to the soundtracks. I'm only running a 4.1 setup with sub-par rear channels so if you have a more all around setup it can only get better.
Actually Samsung has a Bluray player with 7.1 analog out. for $199 @ Costco.

Will I hear a huge difference in quality from a oppo with both outputting 7.1 analog output?

I'm sure the Oppo 93 will be great if not better than the 80 or 83, but at less than half the cost, the Samsung looks attractive. Still debating if its worth the price just to hear DTS-HD/DD-TRUE DH when watching movies.