Keep in mind you would still need a box to decode your digital signal coming in over HDMI. The Trinnov will not do this for you. Given lack of digital outputs on SSPs, you will then need A/D/A conversion. If you subscribe to the weakest link theory you will need a high grade SSP in addition to the Trinnov processor, and are back to a two box solution and easily over 20 grand worth of gear. Alternatively you could get a (used) Theta CBIII HD with just a digi out card and no DACs and go all digital into the Trinnov. This should set you back around 7K (just for the Theta). Either way, this won't be cheap, and will look much like the ADA + PEQ setup.
Unless of course you get a very high grade universal player for MCH audio (like my Marantz UD9004), which would go analog into your Trinnov. You would feed the trinnov digital inputs for your two channel source(s). Only thing you cannot do with this setup is run a MCH digital satellite receiver into your system. If you're OK with two channel audio for your TV, this should be fine.