Yep, you have the same problem that I have with a Panasonic TV which also only has 1 HDMI input.
You definatly don't want to plug in and out the HDMI cables because you will eventually destroy the connector to the TV!
I used a device called
HDMI switch that allows me to connect 4 HDMI players to the HDTV.
The cool thing is that it also has separate inputs for Optical audio that I can then route to the AV receiver.
This should solve your problem.