I just moved into a house and the previous owner installed a component cable from the closet in the bonus room to where the tv goes. It goes into the wall and somehow makes it out by the tv. My first idea was going pull that component cable out and replace it with two HDMI cables in case one goes bad.
After playing with it, I realized that this task was going to be a lot harder than I originally thought. So, my next choice is trying to purchase a HDMI --> Component from my Sony receiver to the Sony TV and just use the component inputs on the TV.