But with only one HDMI input that will take the HDMI signal and strip out or split the audio to a TOSLINK output.
I have an HD DVR in another room with an active splitter sending the signal via HDMI to another room. In that other room I want to send the video to my TV but the audio to a receiver. My TV has a digital out, but it is only 2-Ch sound. So I need to split the multi-channel digital audio out.
I'm looking for something like that too, as my TV won't output full DTS or DD, only 2 channel stereo on the optical output when a HDMI source is connected.
I already am using a 4x4 HDMi matrix switch from monoprice to route HDMI from components to TV's, and need a single input HDMI to single output HDMI with Optical output, for the "Theater room's" stereo equipment.
Sounds like the new HD Fury III will do the job. Not sure what your budget is since you didn't say. The Fury is actually designed to accomplish something totally different but should do what you want to do too.
You would then use a DVI to HDMI adapter or cable on the DVI output of the box. Due to the electronics needed to separate out the SPDIF digital audio from the HDMI muxed A+V data stream, there isn't any cheaper way to do this at the moment with external hardware boxes.