Coaxial/optical vs HDMI audio - Is there a noticeable difference in quality?

[ickysmits]

I read that the advantage of HDMI is really with a 7.1 set-up paired with a Blu-Ray or HD DVD player capable of outputting the signal to get TrueHD. Even then the difference is negligible.

Keep in mind I'm trying to decide between low-end receivers - some HDMI audio capable, some not. I'm not speding more than $600, speakers included.

The little research I've done seems like HDMI 1.3 audio is more marketing hype than is actually important (like the whole 1080i vs 1080p debate). There are words like 'future proof' and 'HD lossless audio' being thrown around recklessly.

So, is it really something more discernable among audiophiles with higher end equipment or is it something that makes a difference and is worth getting on lower end equipment?

Thanks in advance for any advice.
Thanks for that information Masteropie...it sounds like I'm on the right track. When you talk about how the audio will be more closely synced with HDMI, it that also a small difference? I was considering the Onkyo HT-S5100 and would probably just run the HDMI from my DVD player to the plasma and the optical to the receiver - is audio sync some to be concerned about?
Great, thanks for the confirmation lordgre... appreciated.

I have some decent receivers in mind and I think I'll look at speaker quality and something to build on more than anything.