I have been saying that with my vastly updated A/V unit but no one wants to believe me... Glad you are experiencing the same results!
I'll let you all know Saturday 11/20/10 if this works. I just ordered the Onkyo TX-NR708 to replace my TX-SR805. The SR805 has always been slow to lock in. Even with BluRay I miss a couple of seconds of sound when it switches from DD to DTS-HD (for example).
I'm a DISH sub so I hope I'm not breaching protocol by posting in this forum BUT...when I went to HD for the first time and a 722 two years ago I started getting the audio dropouts as well. I called a number of times about it but the CSRs denied any knowledge of the problem and wanted to blame (a) my TV (b) my surround sound which I don't have or (c) the install. Finally about two months ago I got through to a senior technician @ HQ. He said it might be a defected audio card. He sent a tech out to replace my unit with a 722K. No fix. Audio dropouts are the same as before. It's interesting that at least D* acknowledges the issue.
That's how I have mine setup and still get the dropouts. With my old Onkyo TX-SR805 it was dropping out for 1-4 words before the sound came back. DD resync? With my new Onkyo TX-NR708 the dropouts are still there but it for only like 1/10th of a second. I notice it but I don't lose whole words. I assume it has a faster processor in it.Here's the scoop - audio dropouts occur when you have Dolby Digital activated and run HDMI to your TV and in turn, run sound from your TV to your receiver. The sound will drop out on both TV and receiver. If you either turn off Dolby Digital or run sound directly from D* receiver to your audio receiver, you will not get audio dropouts. Over and out...