Your player will always output any format encoded on the disc: It's sending raw data through your digital connection. If the disc supports multiple formats, such as DTS-ES and Dolby Digital TrueHD, you have to select the format you wish to output through the menu system of the DVD/Blu-Ray (under sound or audio options, usually).
Your receiver will decode most any format that it supports. If you output Dolby Digital EX and your receiver supports it, it will decode the data into its respective channels and output the audio to its respective speakers. If you output DTS-ES and your receiver does not support the format, it will typically default to an earlier version of DTS, in this case 5.1 audio, from the DTS-ES signal.
In other words, so long as you hook up all the digital sources correctly, you will always have some form or surround regardless of the format. Generally, though, you want to output the signal supported by your receiver and speaker setup. If you only have a 5.1 audio setup, meaning five speakers and a subwoofer, you will be missing audio if you're outputting a 7.1 signal.
Happy gaming,
Boz
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