I know that the 674 will transcode across all inputs to HDMI. However, will it also transcode FROM HDMI to component? Here's the situation:

I will have two primary video devices - my plasma and my PJ.

I connect the A2 and the PS3 through HDMI to the plasma currently. The cable box through component to the plasma.

I'd like to be able to use the Onkyo to hook up the A2/PS3 into the receiver and send HDMI output to the PJ, but at the same time, send both of those to the plasma via component. However, both the A2 and PS3 require you to tell the unit how to output video, and you have to choose between component/HDMI for video.

Will the Onkyo take an HDMI signal and transcode it down to component?

I asked that question when I bought my 604 and was told any signal that came in HDMI has to go out HDMI (granted, that was from a CC employee, so not sure if it's accurate). I can't say for a fact, because I don't currently have any HDMI components to test. I was curious how that would work because my 4 yr old RPTV does not have HDMI/DVI inputs. It wasn't a deal breaker for me though.