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My big issue is that i cant seem to get a common approach.

I don't believe there is one, Alan.

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My latest thought was using a good AV receiver ( Onkyo 906 ) as the preamp. This would let me have my TT via a phono amp then i could get a oppo 980 to output current formats as DSD via HDMI and then add a blu ray later also via HDMI.

Sounds great for playback but I don't see how it helps you digitize and store everything.

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My question concerns the network/USB facilities of these receievers, do they let you use a USB external drive as effectively a music server ?

NO

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if so how do they typically manage the files ?

They don't.

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if this is the case then the receiver will act as my hub and allow me to store all formats of music on a common hard drive.

Am i thinking correctly ?

No. You have to get it all into a computer first. Then you can feed it to a reciever in many number of ways, including USB and networked if the reciever has those inputs.

I am by no means an expert on this but hope I've added a little clarity. Your query might get more action in the computer audio section of this or other forums.

RG