All this will depend on your receiver / processor and your HDMI source
For example:
My Pio 79avi will only send DVD Audio over HDMI
Sony is in the same boat they both did not follow the specs
My Oppo will do DVD Audio and SACD over HDMI
all the players are 1.1
My Toshiba A1 and SA 8300HD will both do Multichannel audio over HDMI
so all I need is one cable from each of those components
One thing to remember is to set your resolution of your source above 720P
HDMI 1.3 has been design for higher transfer rates to carry picture above 24 bits, which none of the current screens can not even handle and there will be no TV's/PJ's that can handle that for long time
1.2 format is for SACD and DVD Audio
Oppo already proved that you don't need 1.2 to handle SACD, so for now all you need is 1.1 (or oppo DVD player
)
Hope this helps