Just skimming this thread. Apologies if I've missed the obvious rebuttals but just a couple points.
I have read that a dedicated music server could be built and that it would sound much better.
The audio output quality is 100% the DAC. (Digital to analog converters)
The computer system used has no bearing. It's either serving the data stream or not. If not, you get an error. Not degraded sound. In the same way digital images "pixelate" instead of blur.
There aren't many multichannel DACs on the market, that's for sure.
Actually there are a great many to choose from and pro used gear going back a decade.
Getting an audio interface with 6 or 8 outputs with professional grade converters isn't hard. You can find interfaces with 40 outputs if you need that! You can also combine audio interfaces in a system and use everything together.
This is slick:
Computer (2010 or newer) with thunderbolt port.
HDMI AV receiver with unrestricted HDMI input.
TB to HDMI cable
Hit play on your favorite media player app.
Cons:
Netbook style computers with no TB ports. (And if it has an HDMI port, it's restricted to video only.)
HDMI AV receivers sold with the HDMI inputs restricted to video only.
Careful when you shop for this stuff!
This always works pretty much no matter what:
Any computer made since 2000 with USB or firewire.
Any USB or firewire connecting audio interface with the # of outputs you need.
USB or firewire cable.
Hit play on your favorite media player app.
There are a few HDMI connecting audio interfaces on the market these days. (This is the style you can't find any good options for!) Just avoid HDMI if you value your sanity and wallet! So much of the "copy protection gone wild" crap in play. (ie. If you can't even play it, you can't copy it.)
The last hardware upgrade I needed was a bluray drive (internal SATA) in 2010. That was around $200 back then. More like $50 now. The last software upgrade needed for a new format was to fully decode the dts2496 format. (This one was/is a ringer. Most software and many hardware players only decode the core dts and deliver a significant fidelity reduction.) ffmpeg has the codec now and just works.
Hard drives are hard drives. Build a NAS or just build storage in a local workstation. Keep a 2nd backup copy minimum.
This stuff can all be DIY and just kept straightforward.
The AVR seems consumer friendly. Everything bundled into one box.
Not so friendly when just one of those things breaks and you have to throw the rest of the perfectly good pieces out and buy everything all over again! Or have to start over because a new format came along.
AD and DA converters are the expensive bit. One of them anyway! It's literally the component putting analog waveforms back together from the digital data. An all or nothing kind of step!
So you buy an AVR with expensive DA converters and then you buy a bluray player also with expensive DA converters. Then you choose the ones that might be a little better between them. The other set just sit there and never get used. Wait... what?!
Modular is better:
Computer -> interface with DACs -> amps & speakers