OK, I was about ready to say that DVI and HDMI ARE better than Component Video.
I was even going to post an article to prove my point!
And I DO still think than an all digital connection is prefered, (Component Video is analog) based on all the posts that I have read.
However, before posting I re-read the article, and sure enough, component video DOES support HD, up to 1080i.
Here is a quote from the above mentioned article:
Can I watch HDTV without a DVI connection on my projector?
Yes. Using a component video (YPbPr analog) input you can still watch HDTV content. If the video source (DVD player or cable box) is able, you can watch video as high as 1080i with this type of connection. The primary difference between the two types of connections is that component video will be a converted analog signal rather than a pure digital signal.
A high-definition analog signal still looks immensely better than a regular analog broadcast signal. Particularly when viewed on a large screen. In some cases, an analog image will often look as good (and sometimes better) than a digital signal.
=============================Here is another good article about DVI, HDMI, HDCP, and other connections
So, I guess the end result, is if you have DVI or HDMI, use it, and you will have a pure digital connection to your monitor.
If you do not have DVI or HDMI, and you have a high end DVD player, know that the component video cable connection, while analog, is delivering ALL the video to your monitor, up to 1080i.
I would think that cable quality, (and cost) would be less with DVI and HDMI, as it is digital, and it either does or does not work, whereas with Component, cable quality IS an issue, and of course, can be very expensive.
Of course, as with any cable, a well made cable is better than a cheaply made cable, as kinks and breaks and damage can occur to any cheap cable, analog or digial, and cause it to not work, so it is prudent to get a well made cable, but again, the cable will either work or not work, there will be no "better picture" if you get a cable made by virgin nymphs at midnight, using 99.999999% pure dilithium, found on an astroid and hidden in area 51!