Vongwinner, if you Pioneer Elite is the BDP-09 this is a no brainer - go the analog MCH preamp route. I had one of those myself, and it is a very good analog player. In my estimation to get the same SQ from a SSP over HDMI, you have to spend a few grand.
You can also make huge improvements on your 2 channel path. There are two ways to do this. You could get a good USB dac (like Ayre) and run it two channel into the MCH analog preamp (McCormack or equivalent).
An even more promissing route is to get a USB DAC with volume control and HT bypass. You would run MCH mains through the bypass and control 2 channel volume with the DAC. If the DAC has no bypass but an analog input, just find unity gain level and use it in bypass mode. I believe the wyred4sound and Bel Canto foots the bill.
If you indicate you are interested I may list my McCormack for sale. It is currently doing Barbie Movies in the upstrairs system and I can easily do the same with a cheaper alternative. Not sure yet if I want to sell it, because I like to keep a backup if my listening room MCH premap fails, but let me know - I would consider it.