basver:The ARC functionality between receiver and TV is used to auto adjust lipsync without having to set the msec delay manually.
ARC (or Audio Return Channel) simply allows audio from a device e.g. a TV, to be piped back along an HDMI cable into an AV receiver so that a separate optical audio cable isn't needed. It's not for adjusting lip sync as it isn't involved with the Blu-ray / DVD playback (though a separate part of the HDMI spec should handle that), it's basically for outputting sound from the TV's internal tuner through the AV receiver without extra cables.
basver:Apart from the lack of ethernet and the fact that there is only basic 3D support, using a 1.3(b) cable then would do?
Not sure what you mean by "basic 3D support" - a cable is either certified to pass 3D or it's not, there aren't different levels. If you look at the link a few others have put (
here), there's no such thing as a 1.3 or a 1.4 cable, there is only
Standard Speed and
High Speed. You need
High Speed to guarantee 1080p and this can also handle ARC, 3D, Deep Colour, 4K and all manner of other things. If you need Ethernet functionality, this is provided with either a
Standard Speed with Ethernet or a
High Speed with Ethernet cable.