There's no need for the receiver to decode HD audio. Most BD players do just as good a job decoding HD audio into LPCM over HDMI as a modern receiver would, and the improvement to sound quality provided by Audyssey would not be available when using the multichannel analog inputs. If the receiver has enough HDMI inputs for the current hardware configuration, no additional ports will be needed until more HDMI player devices are acquired.
I agree with previous posters that a BD player with dual HDMI outputs (one to the projector for video, one to the receiver for audio) is a reasonable solution until funds are available to upgrade the receiver. It does imply that the projector would need to have at least two HDMI inputs, though -- one for the BD player's output and one for the receiver's output from other video sources. A third HDMI input might be needed if a cable or satellite decoder or DVR box is involved. They often have HDMI sync problems when fed through a receiver.
FWIW, the "obvious" dual port BD players to consider are the Sony BDP-S790, the Panasonic DMP-BDT500 and the Oppo 103. The Sony and Panasonic players cost between $200 and $300, while the Oppo is about $500. The Sony player has more streaming options than the Panasonic, but the Panasonic player provides 7.1 analog audio outputs.
Marantz SR7009 avr + MM9000 amp --> Atmos 7.1.4
Fronts=NHT 2.9+AC2, FH+TM=DefTech PM1000, LCR+TM amped