I have the hd add on for the 360 but with all these great flicks on Blu Ray im thinking of grabbing the PS3..with no HDMI I can use all my 3 components for cable, 360 and PS3..for purchasing the PS3, all I would need is the system and component cables and im good..correct?

Yeah, and a TV that supports 1080i or 1080p.

If you want 1080p you need to use HDMI with a HDCP compliant (HDMI 1.10. or greater) TV.

yea..my mits only supports 1080i..but the picture is still amazing so im not too worried about 1080P

thanks

FYI, you need the PS component cables, can't just use "normal" components with the same plugs on each end.