I just borrowed a 360 from a friend, I was eager to get my hands on Mass Effect after I saw the previews for the 2nd one, but nevermind about that right now...

Here's the thing:

How do I get video through HDMI (to my TV or projector) and Digital Audio through my receiver (it doesn't support HDMI) ?

A boxed 360 should have come with TV out dongle for Non-HDMI TVs (you know, RCA, composite outputs) and that has an optical out for digital sound.

Ask your friend where his is, as I think that is the only way you are going to get it, if your reciever doesn't support HDMI audio.

You can't unless you have the Elite which includes a dongle that allows you to use the HDMI port and gives you a digital out.

For those that don't know, using any of the other AV cables for the XBox360 BLOCKS the HDMI port. Absolutely retarded design.

You need to pony up money for Microsoft's HDMI cable, which includes the adapter.
http://www.amazon.com/Xbox-360-HDMI-AV-Cable/dp/B000UODATY/ref=sr_1_1?ie=UTF8&s=videogames&qid=1246029311&sr=8-1

Or you could just take the AV cables that come with the XBox360, and rip off the bulky casing so it no longer blocks the HDMI adapter.

^that's just nice...not surprising at all coming from MS...So if I want to enjoy Dolby Digital 5.1 with a 360 I have to pay M$ 40 bucks??? either that or change my reciever just for that, lol.

Thanks bobobologna...I think I'll have to "enjoy" Mass Effect the way I used to enjoy my PLAYSTATION ONE games: in BLAZING 2CH STEREO!

I don't see why you can't use component cable, hooking the video up to your TV and the audio up to your receiver.

The audio on the component supports 5.1 as far as I know.

Distance between the two devices might be the main issue but you should be able to extend the audio a bit if you need to.

^Exactly.

Use component video with the HD cables that come with every 360 out of the box (except arcade models).

Then use your digital audio cable that has a spot on on the component cables.

Component video will still do 1080p and look just as good with only a few features less than HDMI.

By the way, it sounds like you haven't upgraded your receiver since you enjoyed your BLAZING 2CH STEREO on the PS1.  A receiver without HDMI these days is pretty silly

Check if your HDTV has digital audio output, maybe it does..

My Xbox 360 video setup is through HDMI and the 5.1 digital surround sound output comes from my Sony hdtv.

unbelievable sound, gotta love BOSE.

Are you sure about this? Will it do HDCP? I remember reading somewhere that only HDMI will upscale regular DVDs to 1080P.

Regardless, I found some used cables at Gamestop - I don't they knew what they were - and snagged the cable that offers optical and lets you use an HDMI cable as well for $10. I just use HDMI, though.

Just use the digital out on the dongle, and the component cables. There is no visible difference between component and HDMI to the naked eye, that any real human can tell.

...also, don't use your 360 for a DVD player. It will make it burn out faster.