suprised no ones mentioned the denon a1ud or the sony 5000es which have very decent 7.1 analog outputs.
Basically for decent analog output what is needed is decent dac implementation, analog stages and good quality power supplies. Its something most run of the mill players are typically very lacking.
Have a peep under the hood of the denon A1/3800/marantz 8002, pio 09/lx91 or sony 5000es and you'll see the discrete dac implementation, good quality dacs. decent analog stages using good quality discrete components and their quality power supplies using torroidals and R-cores and the like. Its no suprise these players excel with analog given the effort the makers have gone to in this regard.
something else to keep in mind with goign over analog is the facility of setup over analog the makers provide. again here you will find the denon/marantz, pio and sony options to be pretty decent here. The denon / marantz giving the most flexibility but will find both the sony and pio pretty decent this way as well.
Additionally also depends what you have in the way of the avr or av pre, as to the result you will get over analog. most of the run of the mill avrs though pretty decent over digital are infact pretty average over analog. hooking up even "the best" player there is over analog to one of these will be a a complete waste.
best over analog ? it would have to be the big daddy denon A1UD isnt it !