The digital connection will support MC playback (Dolby Digital, DTS), assuming you connect it to a receiver or preamp that can decode it. In fact, the same connection will support PCM playback from your CD's as well.

Now, if you are looking to play SACD's or DVD-A discs, then no, it will not work. But a player that can support those formats will almost always have 5.1 analog outs.

Brian