New to the HD/HDMI reciever world...Is the following true...

if i have 3 sources connected to my reciever (one componet, one optical, one hdmi IN) can/will the reciever be able to use just one HDMI out to the TV to play the video and audio from the source?

Seems like not all rec's capable of doing this but yet they all advertise HDMI. What do i need to look for on the specs of the reciever to be able to do this - if possible.

Many receivers will upconvert component video to HDMI (which is what you look for in the spec), but I don't think they also send the optical audio on the HDMI. Normally the audio is decoded by the receiver (that's why you have the receiver) and just the video goes to the TV.

if i have 3 sources connected to my reciever (one componet, one optical, one hdmi IN) can/will the reciever be able to use just one HDMI out to the TV to play the video and audio from the source?

Maybe. Depends on the capabilites of the receiver.

And as mentioned not audio to the TV unless it's coming in HDMI already, though I am assuming you were just being unclear/confusing and don't actually want to do this.

Also, your explanation has no sense. One device is component (no audio?) one is optical (no video?)...

If you want help, please make sense.

New to the HD/HDMI reciever world...Is the following true...

if i have 3 sources connected to my reciever (one componet, one optical, one hdmi IN) can/will the reciever be able to use just one HDMI out to the TV to play the video and audio from the source?

Seems like not all rec's capable of doing this but yet they all advertise HDMI. What do i need to look for on the specs of the reciever to be able to do this - if possible.
Make sure the receiver will convert all video to HDMI. This will allow any video connection to the receiver to be sent to the TV over a single HDMI cable. Use the receiver itself for audio.