According to this article, HDMI is better than component is just a myth.
http://www.tomsguide.com/us/2007/09/...ent/page2.html
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Conclusion
The real point is that there's not really a winner: the argument to be made is that both formats function just fine. HDMI is nice because it incorporates both audio and video, and that's a very nice extra feature. However, if your cable company's HD converter box only supports component output, that's not a reason to jump to another service provider. Analog technologies date back decades upon decades and are built on a long-standing tradition. And while digital formats are supposed to deliver more fulfilling standards, they're often under-utilized in favor of making cheaper products.
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Long-range HDMI cables are also known to lose quality because of a less-than-perfect set of standards for the format.
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Huh?