Razor Mako

I want to use a Razor Mako 2.1 sound system with a PS3 and Sony Bravia LCD TV.

The Mako has two entrances: a standard 3.5 mm (or 1 / 8 inch) and mini-RCA jack.

The 2 patterns of connectivity that I can think of are:
1. PS3> HDMI cable> TV> 3.5 mm output> Mako.
2. PS3> PS2 Component cable> Mako RCA.

My question is that there will be a loss of sound quality when connected through the TV?

How do I get the best experience of 2.1 with this configuration?

Thank you in advance!

Connect the RCA cables directly from the PS2 and PS3 for the system.