i have a question about a possible setup.

Currently I have a PS3 connected to the tv via component (tv's a bit old and doesn't have hdmi) but getting up to 1080i resolution. I'm pretty satisfied with the picture quality and have no plans to upgrade the tv... yet. But I am interested in experiencing HD sound and planning on getting a receiver (hk 247) that'll handle HD audio via HDMI. and here's my question.

Would it be a problem to have my ps3 connected to the tv via component (for video), and also have my ps3 connected to the receiver via HDMI (for audio) at the same time? In theory, there shouldn't be any problem, is there?

nope, I do that sometimes depending on which tv/stereo I'm on. I use the Pioneer 92txh and a Dell 2405 and it works perfect when using Compontent video and HD audio.