It depends on if you want to drill that hole to run the cat 5 or simply use wireless.StangGT909 said:
I always recommend running a hard wired connection; but there is the effort versus simplicity factor you have to weigh for yourself which determins if you go with the 500 which incoporates wireless abilities.
As far as connection method to the receiver goes; I'd suggest component to eliviate the HDCP issue from the get go.
In terms of remote and slingbox control; you have to have it set to IR. If RF is a must in your senario, then use an add on piece such as what I'll attach in order to accomploisgh your goal as it works well and allows for the best of both worlds....
Although the Hx and HRx series receivers are either IR or RF (not both simultaneously); there is a work around available that will allow you to use both.
Look into purchasing a "Next Generation" RF converter:

Keep your remote and receiver in "IR" mode, then replace one of the batteries from the remote with the nextgen replacement battery thus converting it to RF use.