Just like thughes writes, just use the analog out puts from your blu-ray player into your MX-120 (and then select "external" for the input) and you will have the player do the decoding and then you will be able to take advantage of the latest co-decs. That is what I do and it works great.

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MC-501 (2), MC-7106, MX-119, MS750, modified Denon 3910, Oppo BDP-83, Museatex Bidat DAC (updated), VA Mahler, Oratorio and Waltz. REL B1 sub. RGPC 1200s, 400pro. Hydra 2 & 6, 2nd system: C712, MC-7270, Museatex Bitstream DAC (updated), LSA1 Monitors