NRX, because you are a new member, I cannot send PM responses to you at this time. So I will post my response here.

I know you want to use the analog outputs of the Oppo BDP-95, but that might not be practical unless you use passive room treatments(which requires careful measurements). It is not a good practice to go through multiple stages of A/D or D/A conversions because it does cause audible degradation. Unless your room is perfect(and no room is) you will need some kind of equalization, and equalization done digitally is better than the analog options currently out there. Also, post processing(bass management, distance etc) is better in any receiver than it is in the Oppo. So unless you have have speakers that are equidistant, or all large or small, then it is better to go the HDMI route rather than the analog outputs. For movies, the analog outputs will not produce any better effect than the HDMI route. Decoding chips for DTS and Dolby are all standardized, so whether the player does it, or the receiver, it won't make a difference in audio quality. Where those analog outputs really come into their own is when you have the same speakers all around, set up equidistantly to the primary listening position. As long as you don't use post processing, then the Sabre chips will shine.

All receivers these days have video pass through, so the Oppo can do the processing, and the reciever won't mess with that processing.

If you have any more questions, post them here.