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The majority of SKY+ HD boxs only output Stereo audio via HDMI and require an Optical or Coaxial cable for up-to DD 5.1.
Your TV will likely only work with a stereo audio signal so unless you can override the Audio settings in your sources your Source devices which are capable of 5.1 via HDMI may be stuck in 2.0 stereo audio via HDMI unless the Switch you install has inbuilt EDID management!
You may need to consider an HDMI + Optical Switch to achieve 5.1 from every Source into your AV Amp.
I don't use the 5.1 feature of the skybox anyway, 2 ch stereo is all I use.
My ps3 is set to bitstream thru hdmi. The Apple TV, all I use that for is AirPlay from my mac and view photos, so surround sound is not crucial for me.
My setup is 2 ch stereo anyway.
I've brought this for £36 on ebay, will it do the job you think?