Convienence factor, Yes HDMI will prove far easier and as good of picture with CERTAIN components over the Component, mostly this is only true with some first generation HDMI units not getting it completley right in the first place. However, some components just have better processors and up-scaling over the component jacks vs. HDMI depending. Beyond that component and HDMI Cable materials themselves should render identicle results, a Component cable of as high a grade of a cheap HDMI however is much more costly, and of course larger and harder to run and route thru physical barriers and things, this also breaks down to most HDMI can run a longer distance without any loss or artifacts. One other advance in the HDMI connection with my current equipment over some Component connections is it seems to have corrected any boot up errors, you know when back in the day if you turned on your DVD or other source with component and the TV at the same time, or 2 close together during initialization it would scramble the picture and you would have to loop around the inputs on the monitor or shut it off and on again to correct the scramble.