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nightsurge said:

^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

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.