It all depends on weather you are talking about RGB or component. You can have RGB on 3,4 or 5 wirers. The difference is where the sync is placed, on green (3 wire), horizontal and vertical sync on their own separate wire (4 wire) or horizontal and vertical sync each on separate wirers (5 wire). The difference between them is minimal. Some projectors do have a little trouble with sync on green and you end up with a the pictureâ€™s brightness flickering a little. Separate sync is safer.
If you are talking about three wirers as Component video Y, R-y, B-y then you need to make sure your projector accepts that signal. It may be advantages for you , with an HTPC to run your set up this component because, the encoder in the pc is probably not stellar. With component run to the projector you will have color and possibly tint control at the projector. This can aid in set up.
What projector do you have? Do you know the bandwidth specs for the Component input? Is it designed for SD video or HD video?
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