I finally managed to solve the annoying handshake issue. I realised I had an old well made 15m QED HDMI cable and tried it, to my surprise it worked. I think this cable has heavier gauge copper and that is what helped to establish a better connection between the PT-7030 and the projector. Again, a big thanks to fellow forum members who went out of their way to provide input and help.
The 1-2 Second audio drop is a bit annoying and happens especially when I play digital content from a USB hard disk connected to my BD player. Every time I play content through the media player, I get video but the audio kicks-in after 2 seconds and it drives me up the wall. Has anyone out there found a solution to this problem ?
Like many other people here, I do like the simplicity and performance of the 7030 but these little problems can be a real pain at times.
I wonder why such a progressive and respected brand like Emotiva would leave their customers out in the cold when they can help resolve these issues and add further value to the Emotiva brand. With such soaring competition in this day and age, it all bottles down to excellent service and support.