Onkyo 507 & PS3 as blu-ray player?

I am thinking of purchasing an Onkyo 507, 607 or similar receiver to replace my dying pioneer VSX-24tx. I currently have a Samsung 1500 blu-ray player and a pioneer 34" crt 1080 i tv (they all work well together after I pound on the pioneer receiver long enough to get it to work). I thought I'd move the samsung blu-ray to the kids room and get a PS3 to use as the dedicated blu-ray player to go with the Onkyo 507 since it sounds like I can use my Netflix subscription and the PS3 to stream movies, etc. I've read some posts that seem to indicate this might not be a good idea because the PS3 is managing the sound? Or maybe I should consider a higher end receiver?

I think I found some of the info I was looking for on the PS3 thread. Any advice would still be helpful though. Thanks.