Will this audio set up work?

Question

I have several components in my home theater system with optical out. I was wondering if this would work.

All Equipment:

Sony PS3

Philips 5.1 Home Theater system (coaxial in)

Directv Hd reciever

Sharp LC52D64U

and other small components and cables that i may have to buy

The idea:

I want to connect my PS3 and the HD reciever to my TV via HDMI. Then I want to connect a optical out cable from the Sharp tv, to a converter that i can purchase for 30 bucks online. This will convert it from optical to coaxial, then connect that to the home theater system via coaxial.

I believe all of this will work, i am just not sure if the tv can bring the 5.1 surround from the reciever and the PS3 through it to the optical out on the tv.

Answer 1

That all sounds legit.

you know what your doing this was more of a comment .

"honey(wife, girlfriend) im finally going to set up the entertainment room"

Setup time aprx.:  45 min

Difficulty: average

can you link a picture i wanna see it all setup.