...It says it will only support 2 channel stereo, but mine does full 7.1 Dolby PlIIx when I'm catching up on Lost. I dunno? Anyone else using this one?...
Are you really sure you are getting multi-channel audio using that HDMI/USB adapter from Monoprice (or is your receiver just synthesizing surround sound from a stereo input)? Most receivers will happily switch into multi-channel Dolby and enable the surround sound speakers even with a plain stereo input. Does your receiver have indicators for
both input and output audio signal states (indicating when you actually have multi-channel
input as opposed to simply indicating multi-channel output)? Are you using a third-party extension or driver to enable such output? What application are you using to get multi-channel playback? AFAIK, multi-channel audio support on the Mac has been pretty weak unless you use third-party extensions and/or drivers. About the only built-in support comes with Apple's DVD player application (but that only works with DVDs and getting it to actually switch on is kind of a chore -- it's not enabled by default).
Lastly, I noticed just yesterday that this thread was started over one year ago (don't know why it was resurrected by faithhevans on May 16). Thus, I'd assume that the OP is long gone.