need help!!!

morning all! I am setting up my new onkyo 607, I have a panny bluray dmp-bd30 which doesnt have tru hd or dts, how should I set the audio on the bluray, bitstream or pcm? what are the best listening modes from the receiver for fios, regular dvd,blu ray etc theres so many I dont know which ones are the best.pls help on any other set up advice for the receiver and blu ray, also I have a samsung 50'' plasma and 5.1 surround featuring infinity 162 left and right, 350 center,ps 210 sub and 152 rears. I have upgraded rom the onkyo 506 which was a pass thru receiver so I am so psyched for lossless sound .

I am setting up my new onkyo 607, I have a panny bluray dmp-bd30 which doesnt have tru hd or dts, how should I set the audio on the bluray, bitstream or pcm?Bitstream sends the encoded track to your receiver for decoding.

so I should have it set up bitstream, what would happen if it was set up on pcm?

so once I set my bluray to bit stream I will not have to touch it is that correct, and what does pcm do?and if I tweak my spkr levels after calibration does it automatically return to the volumes that the audyssey set them at when i shut it off in standby