Found a great article briefly tackling the qualitative differences between these two types of cable formats:
An extract: "...The resting assumption is that, because of the digital-to-analog-to-digital mechanism involved with component cables, there's always a bigger loss of picture quality. That sentiment is ridden with naivety, though, because HDMI suffers similar issues. Even though it's a digital format, it's hardly a universal conversion from every single output source. HDMI cables also need to convert signals to their own format. The only difference is that it's just messing around with conversions between different digital signals instead of digital and analog. In other words, the stuff that's going on inside these crazy cables is whacked, no matter what kind of cable you're using. While it's an easy cop out to just assume a more antiquated analog format will have more trouble reproducing a purely HD image, that statement lacks thorough consideration. ..."
An extract: "...The resting assumption is that, because of the digital-to-analog-to-digital mechanism involved with component cables, there's always a bigger loss of picture quality. That sentiment is ridden with naivety, though, because HDMI suffers similar issues. Even though it's a digital format, it's hardly a universal conversion from every single output source. HDMI cables also need to convert signals to their own format. The only difference is that it's just messing around with conversions between different digital signals instead of digital and analog. In other words, the stuff that's going on inside these crazy cables is whacked, no matter what kind of cable you're using. While it's an easy cop out to just assume a more antiquated analog format will have more trouble reproducing a purely HD image, that statement lacks thorough consideration. ..."
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