Pioneer BPD-51FD blu-ray player

I thought if you use the RCA outs, your AVR will ALWAYS say PCM. And that PCM means that the audio is going through the Blu-ray player's internal DAC before being sent to the AVR. When you hook it up through an HDMI cable, it bypasses the Blu-ray player's DAC unless you specifally have it set not to in the Blu-ray player's settings. But both ways give you uncompressed audio. I could be wrong, but that's what I always thought.