Hi, I'll try to answer your query. My instant answer is YES, you dont need a 5.1 output capable player (I'll assume it's 5.1 analog output). You can connect it direct digital (either optical or coaxial) set your Receiver to Digital input "ON" and it will read either DD or DTS or DD-EX or DTS-ES depending on you software.
My second answer is, if you will playing DVD-A & SACD in the future, you need a universal player, then you will need those 5.1 analog connections in order to enjoy the high resolution audio recording.
and yun nakakabit lang sa player is yun video to tv and yun audio papuntang receiver but the speakers itself nakakabit sa receiver? thanks
If you will be connecting only one source better connect the player directly to your TV.
If you will connect your DVD via "Stereo " connections (Red & White) you will not enjoy those Discrete 5.1 & 6.1 but you will using only those Dolby Prologic or DTS Neo etch..... You need digital connection.