Squidmaster :
You make good points all around. Here are the specs for my TV:
http://www.maxentusa.com/_coreModules/eShopping/productDetail.aspx?productMasterID=15
My understanding is that routing the sound through the TV would reduce it in quality by a ton as opposed to connecting from the cable box to the receiver. In addition, won't the TV's sound controls apply if I have the TV connected to the receiver, and hit mute or any volume control? This is my concern.
No problem connecting the TV to the receiver, it has 2 sets of RCA connectors. The sound from the cable box would be better especially if you can use an optical connection but then you'd have to also connect your DVD player and VCR to the receiver. If you run the audio from the TV, you won't have to worry about connectiing the DVD player and/or VCR to the receiver. I've done it both ways and it's a pain to have to set everything to the receiver. I really care a lot more about music than TV and movies so if the TV sound isn't all it could be I can live with that for ease of use, especially given my wife watch a lot of TVs and if it involves more than one 2 buttoms she's calling me to set it up. The surround sound is in our family room and I have a 2nd sound system in the basement with my computer and this is where I listen to music. Finally, you're best off connecting using optical (digital) connections rather than analogue when you can. The problem is I think the 303 only has one optical connection while the 505 has 2. Likely your cable box, DVD player, and sound card, at least if you get a good one, will have optical connections so even with the 505 you'll only be able to connect 2 of the 3. If it were me, I'd do the computer if I had one, the DVD if I had 2 connections but again for me music always takes precedent when there are trade offs. To get 3 connections on a receiver you're looking at a lot more money.
Found this on page p48 of the TV manual, page 18 tells you how to connect the TV to a receiver.
A small display window appears upon selecting the
option to change. Use to change the setting.
When set to VARIABLE, audio output is affected by
the monitor’s internal audio controls. When set to
FIXED, the audio output bypasses the monitor’s
internal audio controls. After achieving desired
setting, press key to confirm setting and return
to previous menu.
It sounds like if you set it to variable, you'd be able to mute or turn the volume all the way down and still use the receiver although it could be the opposite. Any way one way or another you should be able to use both the TV audio and the receiver.