To you first question: I don't think an iPhone works as a bluetooth receiver, let alone that I do not think it would then relay the signal via Airplay.

To your second question: this depends largely on your TV. If you could plug in the RCA connectors, maybe it will relay the sound via HDMI Arc. I have no idea what this would do to sound quality though….

Appreciate the input (no pun intended)...just trying to circumvent using another piece of hardware if I can avoid it.  But the sound quality loss could be a dealbreaker, given the importance of sound quality we all obviously share.  Thanks again!