I was wondering if anyone had some insight on doing this. I have an old Altec Landsing 5.1 PC system (3 - 3.5mm connections) and I'm trying to rig up a cheap home theater setup. I was wondering if I could do S/PDIF out from my TV to a device like this and get true 5.1. The goal is to spend as little as possible and use what I have instead of having to buy an AV receiver....
https/www.amazon.com/dp/B004HXGJ3S/ref=psdc_3015427011_t2_B076PC4VV4
https/www.amazon.com/dp/B004HXGJ3S/ref=psdc_3015427011_t2_B076PC4VV4