Basically the PS3 can decode the audio formats internally. These can be the old vanilla formats such as Dolby Digital 5.1 and DTS and the newer High Definition Audio formats such as DTS-HD Master Audio and Dolby True HD. It has to send the decoded audio to an amplifier (AV Receiver) using LPCM (Linear Pulse Code Modulation) which is basically lossless multi-channel audio. Other Bluray players (and HDDVD) can output the raw untouched audio as something known as bitstream to be decoded in the AV Receiver. The PS3 can bitstream DD5.1 and DTS but not HD Audio. That is why you will see some amplifiers with various audio format logos on the front. Just because the amplifier doesn't have them on the front (or display) doesn't mean you aren't hearing them. The decoding is done elsewhere, in your case, the PS3 and sent out as LPCM. Therefore ideally if you want to hear the new HD audio formats and if you're buying a new AV Receiver you might as well, you will need an AV Receiver that can accept these. The trouble is, amp manufacturer's don't seem to want us to know their amps can do it so you often have to study manuals to find the information. LPCM can be sent out as multi-channel analogue using 6 coax cables (for 5.1) and 8 coax cables (for 7.1) or in the case of the PS3 via HDMI. The PS3 doesn't have multi-channel analogue connections. The older digitial audio connections known as optical (toslink) and digi-coax (orange phono connection) do not have sufficient bandwidth to carry the new formats but can carry DD5.1 and DTS.
Have a look at the definitions of these audio codecs at the likes of wikipedia,
avland.co.uk, dolby.com, dts.com and
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As you have a PS3 buying a Receiver with the HD audio decoders on board will be wasted, for now. Okay, in the future, if you buy another bluray player that can output bitstream then they might be useful to you but as the PS3 is a very capable machine, why would you upgrade? It's the only profile 2.0 machine and works perfectly well. The cheapest AV Receiver with HD audio on board was the Onkyo 605 (RRP £400) but now this is filtering down to other manufacturer's budget receivers. For example Sony are about to release the 820 model at around £230. However, if you're after audio quality over features, I would stick to the likes of Denon, Yamaha, Marantz and Pioneer. Okay, there are others but these are most popular for a reason.
Get out there, visit some dealers and armed with some research ask questions and demo!!