One thing that's lost in this is that for some people with some TVs, component just looks better. In my case using HDMI-DVI from my 622 results in a harsher picture - the component is much more natural looking. .
I feel the same way. I've gone back and forth between component and HDMI, and the component connection just looks better. I've even had guest over that knows nothing about what I'm doing and asked their opionion between the two pictures. Every person I asked chose the component connection.