How important is having DTS-HD Master Audio and Dolby Truesound?

The sound is worthwhile but you may be ok. Does your blu-ray do the dts ma or tru hd conversion to pcm?

You are not missing much, IMO.

I would not spend money just for lossless.

Yamaha RXV-2500 has MCH analogue inputs and you can simply use a BDP with MCH analogue outs.

PS. The SPDIF route for a 2CH PCM downmix from a HD track would give you some idea of what it's like.

I used to have that very receiver back when it first came out. I was soooooooo HAPPY to get rid of it when I did!

Don't get me wrong, it is a very good receiver. But that was like 7 years ago that it was so good. I replaced it about 3 years ago with a $400.00 Yamaha RX-V663, 7.1 receiver. It has support for all the HD and lossless codecs.

If you really do have pretty decent equipment, I'd definitely look into replacing it with something new. Whether it be a new AVR for only a couple hundred bucks, or even better, depending on your budget that is.

I'm actually looking into replacing my 3 year old RX-V663. I guess I replace them every 3 or 4 years or so. I may wait to see what this years models have to offer.

2500 has a better amp section though Glad the 663 was adequate.

If you can wait for deals, you can usually get high end Yamaha models for 1/2 price or better. That's the way to go, I think.

I upgraded mine last month as I wanted a number of features that the old one did not have.
HD audio was one of the reasons. Not sure in two weeks that I have noticed it to be a huge improvement, but this AVR has Audyssey and I think my speakers are working better because of that.

True Mike.

And that's a good point. I actually use external amps in my setup, and it appears as though the OP is planning on doing the same?

So that might not be relevant in this situation.

Ah, well then you don't care about receiver amp sections

I have an XPA-3 and a Crown hooked to my Yamaha RX-Z7, but they are not needed. I just like amps.

I agree with the SPDIF route, but also agree that it's not going to be a very "real" difference (if you notice anything at all).

Regarding the multi-ch analog inputs, ensure that whatever player you purchase has sufficient management/configuration options to make this worthwile - very few receivers will do bass management or other processing of their multi-channel analog inputs. That said, it would give you the lossless audio, at no different quality than if the receiver was decoding it from HDMI. I don't know what kind of room correction or EQ features that Yamaha has, but that's probably going to be the "big" difference between it and a modern AVR or SSP (regardless of whether or not you use the multi-ch analog inputs).

If you want a new toy, I agree with the suggestion towards a new, more modern AVR, with pre-outs. Replace the V2500 and get something "smarter" to put in front of your amplifiers. I think overall you shouldn't expect world-changing results, but there's a few features that will give you incremental benefits (room EQ, more sophisticated bass management, things like that).

The PCM output will only be in stereo - not multi-channel. You'll be relying on something like Pro Logic II to get a surround output; I'd probably stick to the lossy high bitrate.

The newer room EQ systems are more precise, but in terms of "does it justify the price" - by itself I would say "no," but it does contribute to the justification.