No sir, RCA for audio is going to carry an analog stereo signal only. At any rate, it's far lower quality than HDMI or optical (TOSLINK) can carry.Rca and hdmi can both carry digital signals.
EDIT: Except if you used S/PDIF, you will send a digital compressed signal over an analog cable. Still not HDMI or optical quality. Maybe it won't matter for most people.
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