That's what I would suggest for Audio, I am a big fan of TOSlink, though if you want a single cable solution and your receiver supports HDMI you can use HDMI as well.
You cannot move app tiles all the way to the main screen front page, you can "pin" apps so that you can easily access them from the My Pins on the main screen however. Just open the app and add it to Pinned Apps
I was totally bummed when I found that "pinning" favorites meant just putting them in a folder called pins... Like wtf. Way to be totally misleading about the functionality lol.
As for the original issue mpovolo, toslink will be about the best you can get. HDMI is the newer standard and is compatible with newer technologies. If I'm not mistaken, the 360 is not compatible with those new technologies either...