Optical to RCA converter

I scored a great deal on a new Panasonic plasma tv. Unlike my older Panasonic, the only audio out is an optical (toslink) out, and there is no analog audio out.

I have a Peachtree iDecco, which only has one optical input that is being used for my older generation Apple TV which I use as a music server. I had my older tv running into the AUX input via analog audio outs.

I purchased a Gefen optical to rca converter on Amazon for about $60. On the one hand, it does what it claims and allows me to use the AUX input for the tv. However, the sound quality leaves alot to be desired.

Anyone have any suggestions on an alternative to get better quality audio from the tv optical out when my available input is an RCA input?
First off I would hook the toslink from the TV to the Peachtree iDecco for a short while to determine if it is the convertor or the TV. If it is the TV your stuck if the convertor see if you can exchange it for a better one.
Edge22, I may need to investigate this issue also. I will be buying before the Superbowl and I expect to have the same problem. Please post your results. Do you have a surround sound processor with various audio in/out connections? If so you may try that out for sound quality.
Theo, I did hook the toslink from the tv to the iDecco and it sounds great.

Tom, I do not have a surround sound processor.

I am wondering if the DAC in my older Panasonic tv was just alot better than the DAC in this Gefen converter. In my old setup, comparing optical out of the tv into the iDecco and analog audio out into the iDecco, there was not a huge difference. With this new Gefen converter, there is a huge difference (that is, noticeably poorer sound quality with the converter).

Does anyone know of any other converters that may be of higher quality than the Gefen?

Why not look for a toslink optical switch?

I would recommend you'd look into Monarchy DIPs which, in addition to converting the signal from toslink to coax, re-clocks it and really improves the sound of lesser transports and/or jitter sensitive DACs. Various versions of the Monarchy DIPs show up here on audiogon for as low as $120.
Thanks, Bob and Arni.

The toslink optical switch might be an inexpensive solution, assuming it does not noticeably degrade the sound. I will not be able to switch from the remote, but overall maybe a good solution.