HDMI dembedder option for DAC use?


While trolling the web I ran into a computer audiophile thread on this device Atlona AT-HD570

http://www.atlona.com/Atlona-HDMI-Audio-De-Embedder-with-3D-Support.html

I'd love to take SACD player higher bit rate HDMI output and feed it into the Dlink III DAC. Does anyone have experience using this or a like device; can it work well with a regular audio DAC, better than the CD format out direct to DAC?
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QUESTION: After buying a Blu-ray player (which?), then how can i get Dolby True HD and/or DTS HD Maste hi-bit-rate PCM movie audio, into my 2-channel Bel Canto 2.5 DAC, then to my amp? and speakers??
I WANT HI-REZ SOUND when watching movies.
Right now...I don't have a bluray player - just dvd played via MacMini. The audio I get is what is on the vast majority of commercial DVD-Video releases namely AC-3 audio. 48 kHz sampling ...only up to 448 kbit/s. Definitely NOT Hi-Rez.
I WANT HI-REZ SOUND when watching movies!!!
....I hear that BLU-RAY movies discs have Dolby True HD and/or DTS HD Master. so again, QUESTION: After buying a Blu-ray player (which?), then how can i get Dolby True HD and/or DTS HD Maste hi-bit-rate PCM movie audio, into my 2-channel Bel Canto 2.5 DAC, then to my amp? and speakers??
what caught my attention was the thread assertion that the Oppo players will sense whether the HDMI device supports DSD and convert to PCM since the HD-570 does not, at a higher bit rate than CD. Agreed that DSD to a standard DAC doesn't work. Heres the thread

"http://www.computeraudiophile.com/content/Pioneer-BDP-140-and-Atlona-DeEmbedder-ripping-SACDs-music-server"
For your scheme to work you need a device that will extract the DSD datastream from HDMI, convert it to a PCM datastream (perhaps 24/96) and output it on connection compatible with your DAC.

From its description the device does not appear to support extraction of a DSD datastream.
It will work for 2 channel output but whether you will appreciate any improvement in quality depends on many (as yet undefined) variables.