Thanks for the replies, bros. Yes, my Onkyo RC-260 AVR (similar to the 608) has TrueHD and DTS-MA.
@raider125jeigh, what setting do I set on my PS3 to play HD Audio, I don't see them as options in Audio settings. I read though that you can send it RAW (instead of Bitstream), so my receiver has to be set to 'Direct' (obviously my AVR won't display HDAudio), but not sure if the result is the same. I just read this from a site that suggested this, as it stated that the old PS3's don't have these HDAudio's. BTW, my unit already has the latest firmware after updating it couple of weeks ago through the internet.