Any difference with the component cables used for picture quality?

[Bishop_99]

I have an old Mitsubishi Ws-a65 tv with only composite and component connections and it only has the resolutions of 480 i/p and 1080i. I have a Samsung BD-p1600 hooked up to it and everything else is good. The only thing I do notice is that when I'm watching a movie and the scene is with a lot of red background colors, it looks as if the image has compression artifacts and the edges of some objects might look a bit jagged in those scenes. I hooked up that player through HDMI on my other tv and that problem doesn't exist.

Now my question is if this is caused by the component cables I'm using? They are nothing fancy, 6ft cable I bought for $15 at sears a few years back. Is it the limitations of the actual component cable when compared to the HDMI? Or is it that the tv that can't produce a better image?

Just asking before I buy some new and more expensive component cables.