PS2 RGB setting issue?

[geekgirrl]

I bought a component cable for my PS2. I have a 50001/N PS2.
And my tv is a Panasonic PT-47WX51E HD TV.

When I go into the PS2 menu and set the video output to RGB my tv picture goes squiggly. Should I even be setting my PS2 to RGB? I thought it meant red green blue but through further reading I'm not sure now.

The reason I wanted to switch it to RGB is I though it would give me a higher definition picture right?
I read somewhere that when you hook up your PS2 with a component cable you have to change some settings and I thought that was it.

Do I need to change any settings in my PS2, TV or game settings to get the benefits of component cable hooked up?

Thanks.