Just to clarify what your saying, you're running some form of a connection out of your TV to your receiver, which powers all your speakers. With the preset you want to use, PCM would be the best one as your receiver as that will put the audio to the speakers exactly the way the media has it, whether it be 5.1 or stereo. I would think your TV would handle everything by itself, and just pass through the audio when you select the receiver as the output.