@ProblemSolver/Kanar: thanks for the welcomes. I'm a long time WipEout veteran but have only just found the site and started getting into HD again after a long stint concentrating on Burnout Paradise. Really looking forward to Fury as well now though.
@AG-wolf: thanks the for comprehensive response. I think I've got most of my set-up to match that but will check when I get home this evening. In order to keep Dolby Digital sound I take the optical audio straight to the amp rather than going via the TV and switch sources on the amp and the TV separately, which is a bit of a faff but does keep the amp from introducing lag as you suggest. I'd be quite interested to try the test in the article though to see how much lag I am getting, as with games that run at the speed of wipEout any lag will have a big knock on effect on performance.