The PS3 Slim only just got announced, but its full abilities are starting to emerge. The latest: Apparently it actually can bitstream Dolby TrueHD and DTS-HD Master Audio directly to your receiver. Can I get a w00t from the audiophiles?
Many had suspected (or at least hoped) so—and it's something we've not yet confirmed—but a report on the Japanese Tech News site, AV Watch, makes it sound like a done deal.
The HDMI chip used by existing fatty PS3 models doesn't support the relatively recent Dolby TrueHD and DTS-HD MA codecs. This currently forces the consoles to decode internally and send the audio to your receiver via LPCM, a potentially lossy process.