No,you wont get either Tru-HD or PCM..well you will get PCM,but only 2 channel stereo.
that unit is liimited to dolby digital 5.1,and DTS 5.1/6.1,and there is no audio passed through its hdmi's either.
games and movies will still sound great using an optical lead,into the 885,with the ps3.
that unit over here in the UK/Europe,is classed as the HTDDW890,and for any information(as they are the same),there is a huge thread in the All-in-Ones forum:
http://www.avforums.com/forums/showthread.php?t=496925