HDMI 1.1 and 1.2 will pass multichannel PCM; neither will pass a bitstream of DD+, DTS-HD, or Dolby TrueHD (that's reserved for HDMI 1.3 based on some Dolby literature I've seen). The only difference I've found between HDMI 1.1 and 1.2 is that 1.2 adds support for SACD (1.1 already supported DVD-Audio).