I just bought the arcade system because I'm planning on using hdmi. My surround receiver does not support hdmi. Will my tv take the hdmi signal and output a 5.1 signal through its optical audio out? I have a th37px50u. If not, what is the cheapest way to get an optical audio out on the arcade? Thanks for any and all input you can give me. Thanks.

most likely NO

it is probably for the ATSC tuner built into the TV so you can get the 5.1 when using OTA broadcast

most likely NO

it is probably for the ATSC tuner built into the TV so you can get the 5.1 when using OTA broadcast

Correct. Although there are some TV's that will pass through the 5.1, the vast majority will send 2 channel stereo out. Why not just run an optical cable to your receiver?

Correct. Although there are some TV's that will pass through the 5.1, the vast majority will send 2 channel stereo out. Why not just run an optical cable to your receiver?

Bingo.

Here's the cheapest way to get optical out from 'arcade' 360 (or any HDMI 360) to receiver:
http://www.chadledford.com/?p=50
(works great)