For my PS3 setup I have video output thru the HDMI cable, and audio output thru the optical port to the stereo. Besides this or just streaming the sound through HDMI, you could also use the default analog cables (red&white) instead to separately output sound from HDMI, although that will not be surround sound.
The settings menu allows you to set what outputs from what jacks, and you can use more than one jack simultaneously. Just get an HDMI to DVI adapter for your video. Since it's digital there's no loss in quality.








