It arrived and I did a quick setup but found your right, can only see settings onscreen when connected via ARC, after I made sure all worked and did some quick sound adjustments(boy were they needed lol) I ran the cable hdmi back to the TV and let the optical do the sound and first off I noticed sound was better using optical?? Took less volume levels to achieve same levels then using hdmi? Strange.. BUT Samsung's "AnyNet" does show volume levels onscreen using either ARc or Optical, the photo below is when I adjusted volume in optical, that level of 24 would have easily been in the mid to high 40's?
All in all I am very happy so far, still needs some tweaking but the difference with my sub vs the Samsung's H750 soundbar system alone is huge. Wifi setup was smooth and bluetooth connected easily and I'm actually going to use it (something again the Samsung H750 sucked at, Steaming music sounded lousy with the H750), Pandora, Spotify and MixRadio from my Lumia 1520 sounded great via Bluetooth..
Again when adjusting even bluetooth volume levels it came up on my TV's AnyNet.
DVD sound also came thru with no issues, that's connected to my HDMI 2 on my TV..
I am pretty amazed at how the YSP1600's sound fills the room, I was quite sceptical about the sound projecting touted by Yamaha but the sound really comes at you from all around and I have 2 large open french door openings on 2 walls, older home, so less area to bounce the sound but it still pulls it off somehow.