How important is HDMI?


I have purchased my LCD TV (HDMI equipped) and my revel speakers, in the process of creating my home theater. My question is just how important is HDMI? There seem to be some wonderful values on equipment form fellow members, that quite honestly I could not otherwise afford, but they all seem to lack HDMI. Would I be better off with less expensive equipment with HDMI 1.3 or should I consider some the higher end equipment that may be lacking HDMI? I realize this is somewhat a broad question, but your thoughts would be appreciated.
charlie1
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My experience tells me that componet provides the exact same picture quality. The only advantage that I can see is that HDMI provides audio and video. If you are using component and have a digital cable or are running two L/R channels as audio you won't gain anything other than less cable clutter. I use my HDMI only for the SAT receiver to TV and the DVD to TV if I am not listening to my Revels.
All just one mans opinion of course, other more intelligent
members may disagree.
I use Synergistic Research component cables from my HD Sat Box and DH Labs HDMI from my Blu Ray Player. These both go to a 61" DLP.
with my Oppo and plasma I notice hdmi had a noticeably better picture than component video cabling