An "active" switch (ie one with power supply) came to me out of the question because I have not a device was what to do with a clunky power adapter into the power strip and possibly standby even eats up electricity and because of clutter in my TV shelf is bad enough - quite apart from the fact that active Switchers / Splitters are quite expensive.
My setup:
Bluray player: Panasonic DMP-BDT220EG
Surround system: Panasonic SA-XR15
Wireless headphones: Sony MDRDS6500
On the way from the Bluray player to switch I use an old Toslink cable that came with my television (the usual thin cable that you usually get in such devices). From the switch to the system and to the headphones I use two specially ordered Toslink cable: cable Direct Optical Toslink Digital - 1m cable.
When installing I noticed immediately on what has already been criticized by other reviewers: The sockets are really lowest quality. One has to apply some to violence, to insert the cable, and I would imagine that cheaper Toslink cable would not survive a multiple plugging and pulling out. However, this is already my only gripe. Switching even work through a reassuring stable switch. Until you press two latches on the switch together (whereby the signal is already separated), and the switch locks firmly into the new position. I did not have the impression that something is shaking or would otherwise be prone to failure.
It takes after switching only about one second until the signal is detected - the length of this pause is likely to depend on the output device and not by the switch. In the sound quality I could not see any flaws. There was no crackling, no noise, no dropouts. Even with full high twisted volume of sound in the wireless headphones was still as clear as with a direct Toslink connection without switch.
Since the switch therefore does exactly what I bought it, I forgive despite the somewhat "questionable" quality Toslink jacks five stars and an unrestricted buy recommendation.