Converting HDMI to RCA and then back to HDMI

[podgy]

I just got an HDTV but my surround sound and DVD player only have RCA hook ups. Currently I have my cable box attached to my DVD player. The actual cable then goes to the HDTV but the cable box RCA outputs go into the DVD, which is hooked to the surround sound via RCA and from there a CVBS output goes to the HDTV.

I am going to get an HD cable box but, when I do, will the following work: from the HDMI cable box convert the HDMI to RCA to go in to the DVD player. The RCA would still go from the DVD to the surround sound. If I then connected the surround sound tv out to a converter to HDMI and hooked that HDMI to the tv would the HD be any good on the tv?

I am, of course, just trying to save money by purchasing converters instead of a new DVD player and new surround sound system but I suspect all that converting will just end up screwing up the quality of the HD. Plus, it is hard to tell from reviews how well the converters actually work. Also, it is probably obvious, but I am pretty much a noob to HD.

 

[getochkn]

Get a new dvd player and surround so you get full surround and can actually take advantage of your hdtv. no sense in having it and watching everything at 400 lines of resolution from rca