Looks like even the basic models have HDMI and support decoding for all the new audio formats, so you should be set for that. If your Bluray player supports it, you may want to set it to bitstream the lossless audio and let the receiver handle it all just to be safe, as there are sporadic reports of minor problems with multichannel PCM. If you use HDMI for the audio, you'll need a second cable to go from the receiver to the tv, and by default the receiver will have to be on to get a picture (though there is apparently a way to change this in the settings, so that it will pass through the video even in standby).

Of course, you can still get great results from standard 5.1 over coax or optical, which some people find less problematic to use. If you cannot bear the thought of anything less than lossless, keep in mind that Bluray discs from Warner Bros that have Dolby TrueHD audio will for some reason default to the 640 kbps AC3 track, even over HDMI, and the TrueHD option must be selected manually in the menu.