component upconversion is nice, because most hdtvs lack enough component inputs (i.e. two). not to say that i would run hdtv through my receiver or even a dvd unless I HAD TO, but some people have hdtv, dvd, game console, pvr, etc. and need the ability to have more flexibility as far as inputs go.
gonk, i agree with you on the thought that i cant understand why there is a push (seemingly) towards a one cable connection (hdmi). it does make it simpler for the novice, but most people that are really into home theater are going to have a seperate processor for their audio and not use the tv for sound at all... i am not sold on dvi yet either, i guess it is better for a pixel based image producer (as is reported), but i have compared it side-by-side with component on hd-cable and on my 65in rptv in a blind test i couldnt tell them apart. maybe if i had dlp, or lcd projector, or whatever i could see a difference. i understand the advantage of the signal being digital longer, but its not very discernable.