Please Explain HDMI, Composite, and Component Differences?

Question

I am planning on buying a 26" Viewsonic Widescreen LCD 720P TV from Sam's Club. Already figured out that the satellite receiver will hookup but need to figure out if the PS3 and Wii will hook up with their HD Cables. I have what I believe are HD Cables for the Wii, Pb, Pr or something like that and the HDMI cable that came with the PS3. However do not understand. You can get technical, I know my way around most tech but, for some reason, I have left High Definition till last. I know composite is the Red Yellow and White cables. So the Pb and Pr is component right? Gaah brain hurts trying to get this to work.

Here is site url for tv

http://www.samsclub.com/shopping/navigate.do?dest=5&item=378848&pCatg=9666

Answer 1

Have no idea how old this thread is, but I was Googling some cable specs and came across this link...
If your concern is "How many cables do I have to use?", then HDMI is your best avenue, since, as stated above, you only have to use one cable to transfer video signal from all ranges of SD (480i) to HD (up to 1080p).
If your concern is "What supplies the best video image, and I could care less how many cables I use?" Then the answer is a tie...Both component and HDMI deliver the exact same video signal, there is no advantage discernibly visible between the two.  The MAIN and I stress MAIN reason that T.V.'s have gone to HDMI inputs, as opposed to Component inputs, is because the SAT boxes and CABLE company boxes and DVR boxes and DVD boxes have gone over to HDMI outputs for one reason and one reason ONLY...There was no way for producers and manufacturers of videos to stream a COPYRIGHT PROTECTION signal over the analog component cables.  So, by going digital, the VIDEO remains unchanged, but the DIGITAL COPYRIGHT PROTECTION signal (you will see this referred to as HDCP on most video threads and on equipment), is added to the video signal, making it harder (they hope IMPOSSIBLE) to burn or transfer Digital Copyrighted material to removable media such as Flashdrives, external mobile players, or DVD's.  That is the MAIN if not the ONLY reason for the switch on boxes and LCD's and PLASMA's to the DVI or HDMI inputs.
If you are not subscribing to an HD source, then composite (standard Red/White Audio and Yellow Video) cables will be your easiest way out and there is no reduction in Video quality, since without an HD subscription you are only receiving a 480i signal at best, and Composite will transmit at 480i.
Also, if you are receiving an HD signal and you run it through your DVD burner or player BEFORE it goes into your T.V., then your HD signal has just been downscaled BACK to 480i, regardless of WHAT TYPE OF CABLES YOU USE TO CONNECT IT TO YOUR TV.  Thank God there are now DVD burners and players out there that are capable of UPSCALING to 1080p before sending the signal to your T.V. but these are the newest and latest and greatest models out there...unless your DVD burner/player says UPSCALABLE TO 1080p (or something similar to this)then the ONLY signal that it is sending to your TV is 480i, regardless of what cables you have connected into and out of it.  
This is probably a 3 year old thread that noone reads anymore, but if you do, then maybe I didn't waste the 3 minutes it took to type it. LOL. Have a great day, everyone.