I love my component cables (MadCatz). The best thing is it's for XBOX and PS2, as they integrated the two systems into one cable. However, there was no discernable difference over the s-video cable I was previously using.

Either s-video or component will be a vast improvement over RCA. Especially on a good TV. The RCA's made my games look like a sloppy turd on my 36 inch VEGA, s-video made it look a hundred times better with no interference whatsoever. The RCA's (even though brand new) caused barely perceptable (yet annoying) horizontal lines distorting the picture, then there was the slight color bleed.