I understand exactly what that cable is for. Red/white, and yellow audio and video connectors indicate non-digital, ANALOG output. And the red and white left/right RCA jacks on your receiver are for ANALOG input. Sure, you can plug it up to your receiver, but If you want to have your receiver decode the digital transmission with its built in DAC, you MUST use the HDMI, coaxial digital, or optical inputs. You don't have left and right digital inputs, do you?
Now, it MUST be converting digital to analog for that cable to do what it is intended to do. So you could use it, but it will NOT be using the DAC in your receiver to decode a digital transmission. And IMO, a $7 cable that coverts digital to analog is probably not going to be very good. It is a good bet that the DAC in your phone is better.
But if you want to be stubborn about it, it's your money. Why don't you go buy it, try it out, and tell us how it worked for you, rather than arguing that the cable is something it is obviously not? No one on Head-Fi is going to tell you that the cable will give you digital output. So what are you waiting for? Buy it, or move on and lets talk about something else that might actually fit your needs.
