A PS3 Question...

Hey there, I'm sure this q gets asked all the time, but I just need to check some things. Basically I want to listen to real 5.1 from my PS3. I only have £150-200 to spend, and was wondering if there was any cheaper alternative to getting the the logitech z-5500? I understand that a more expensive solution would be to get a receiver with HDMI decoding, but I am happy to sacrifice quality for an ouptical solution, which is cheaper. I was wondering whether I can find a receiver that will do this without any other bells and whistles. Hopefully I can find something for under £150 so I can purchase speakers at a later date. Would the SONY STRDH500 be a suitable solution for example?

Thanks, Lloyd.