Well... let me get this straight.
First of all, I have a home theater with a receiver with HDMI1.3 and decoding of all the lossless formats (Denon 3808). I am surrently using a BDP-S1 in here, so no access to DTS HD Master. Want to upgrade to BD-Live and lossless DTS.
I also have a BDP-S350 in my office for background noise and the ability to watch extras and things while I work. It's connected to a 19" Sharp LCD HDTV via HDMI. Obviously, I don't care much about lossless here. For this purpose, I am incredibly impressed with the S350... it is cheap, fast, incredible picture, pretty good upscaling, full BDLive functionality, great comfy remote (which works with the volume control for my TV), small, and damn nice looking.
If I understand correctly, if I get a BDP-S350 for the HT, I would have to manually switch between Mix (for listening to pip commentaries mixed with the soundtrack, lossy) and Direct (to bitstream top the receiver for decoding lossless, but not access to secondary audio stream). I also believe I will not get menu sounds, etc if in Direct mode. I couldn't care less if the soundtrack during pip play is lossless or not.
So I was looking to get the S550 so that I could leave the player in Mix mode (outputting PCM) and get lossless for soundtracks and still be able to mix secondary audio. However, it now sounds like you still have to make the setup change (Direct/Mix) to do this?
I also have yet to hear of any improvements in video or upscaling, and there is still no frame advance/slow-mo compared to the S350. Thus, it seems to me this eliminates the only benefit I (and anyone else with HDMI1.3 receiver) would have gotten with the S550. So basically only people that need the analog connections seem to benefit from the S550. Correct? Am I missing something?