For 3D blu-rays and regular blu-rays it really doesn't matter much. I have the Panasonic X10 and the Oppo 93 and notice no difference in AQ/PQ. Now if you add other things like DVD-A, SACD, DLNA/streaming support then Oppo would be the way to go.
If your receiver/processor decodes lossless audio, analog outs really aren't necessary. Run it through the receiver and let the receiver do the job. That's what it was designed to do. Since the RX-Z11 doesn't support 3D, get a player with dual HDMI. Run the main to the TV for video and the second to the receiver for audio. You don't even need to change out receivers. The Z11 is great.
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