Verified answer

Yes you can use a standard RCA cable as a digital coaxial cable, the interface is the same.

Purchasing more expensive cables like Monster S/PDIF Cable would result in less interference and better sound quality, but usually only noticeable in higher end home theater setups, and that's when ALL cords and connections are of the highest quality.

As for the splitter, if you are using a standard RCA "Y" splitter, honestly, I'm not sure... since the signal is digital I'm guessing if it was successfully split there would be no signal loss. I am going to test this today, and i'll update with the results.

If it's successful, I'm curious as to what would happen if you used the "Y" splitter in reverse and attempted to merge two separate digital signals into one. :o)

If you are trying to achieve multi-channel sound, then no, RCA (left and right only) will not give you a true 5.1 soundfield. However, if you are connecting a CD player, then yes, the RCA cable will suffice. Still, even in this case a digital connection would be a wise choice. In order to take advantage of the (presumably) multi-channel digital source material you cannot use simple RCA audio interconnects. Component cables are for video only, they do not carry audio signals. From your question alone I would recommend using the digital connection whenever possible. The cables can be found for pretty cheap now and will provide a much better experience. If you could offer some more details on what you're trying to do and what kind of equipment you have I could offer a better answer.

yes you can use the regular ones.. im using one which i got from my old vcr. it aint even gold plated dude... and it works! it delivers discreet 5.1 to my system. i havent tried though splitting it to 2 receivers...

noticable loss? naah.....