It's not bad, but you could get the Onkyo TX-SR606 which does hi-rez audio over HDMI for about the same price (or a little less) from CC.
The Denon has analog inputs, and fortunately the Sony Blu-Ray player you have has analog outputs, so if you have your heart set on the Denon, you can have the hi-rez audio. But it looks like an older model. You could get the Onkyo TX-SR506 for $270 or less that will do much of the same stuff.
Don't believe everything on the Interwebz! A duck's quack DOES echo!