Can someone please tell me the best way to connect the DV-48AV into my 990?
For DVD-Audio and SACD, you will need to use the multichannel analog. For DVD and CD, the optical or coaxial digital connection will work.
Also do I understand correctly that DVI doesn't carry audio data, so this means that using an HDMI-to-DVI cable between the DV-48AV's HDMI output to my 990's DVI input will produce video, but not audio?
Correct. See my
HDMI FAQ for the details of what HDMI is and how DVI relates to it.
As an aside, the list price on the 48AV is $299. I suspect it's available for less. We have been told to expect an announcement for OPPO Digital within the next week of a lower-cost Blu-ray player that would compliment their
BDP-83 .
If it arrives with a multichannel analog output, it could be an alternative. The BDP-83 supports DVD-A and SACD, so this new player likely will as well. The benefit is that if you want to have Blu-ray in the system alongside DVD-A and SACD, you need all three in one chassis so they can all use the multichannel analog input.