Advise with HD Setup

To start off I have:

Samsung HLT5075S 50'DLP-
Connections: 2 HDMI, 2 S-Video, 2 Composite, 2 Component Video Input, 2 Monitor and sound out, 1 PC (RBG) in, 1 PC audio input
Two stereo speakers, 10 watts apiece (20 watts total); SRS TruSurround XT virtual surround

Receiver- JVC RX-D301

And I'm trying to hookup 5 HD Devices to it.
1.PS3 (Games and Bluray movie only. Regular movies = TO MUCH PS3 USE)
2.360 (silver account don't want netflix on 360 silver account is FREE. Regular movies = TO MUCH 360 USE Plus it looks BAD)
3.Sony 5 Disc DVD Player (Upscaling)
4.Roku' Netflix
5.WD HD Player

I bought a 5 Port HDMI Selector Switch to help but I want to know if I hookup all these HDMI cables to the switcher then the OUTPUT cable to my TV is it possible to get Full Surround Sound if I put a Digital optical cable from the TV's Digital OUTPUT to the JVC Digital INPUT.

OR

Do I need to get Digital optical Audio Selector and put all the Digital cables it that then hook it straight to the JVC.

$h!t I hope I explain that right i can't test it because I'm waiting for the extra HDMI Cable.