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I normally assume HDMI audio is wrapped up in HDCP and cannot be fully converted accurately. But perhaps the Chromecast isn't actually wrapping the signal it has in HDCP.
Not that I've investigated this much.
What I do know is that the SACD player I used to have with an HDMI output could only be paired with a A/V amplifier, and if I tried to jump to a coax or tape output it would prevent that... basically enforcing copy protection somewhere, presumably because the HDMI signal had HDCP.
I kinda avoid HDMI for audio now as it feels a bit opaque, I'm not quite sure what it will let me do.
cheap HDMI audio extractor
CC3 -> HDMI -> cheap HDMI audio extractor -> toslink -> SMSL DAC -> RCA -> rega io amplifier
I'm assuming that because the signal is being passed along the chain digitally (via HDMI then toslink) that there is no conversion at all until it comes out of the DAC as analogue. it does sound less thin to me (with fuller mids, less forward vocals) with this setup but could just be confirmation bias. only fooled around with it for 30 mins since it arrived this am. will give it a further test later on. who knows with this stuff
CC3 doesn't serve as high a bitrate as the CCA, as far as I'm aware. it's limited to 16/44 (whereas I think the CCA does 24/96?)
I'll probably end up getting a bluesound node 2i at this rate