I connected the WD TV unit to our home theater projector using the component video cables because the projector does not support HDMI. I wanted to test how HD videos appear using standard component video cables. I previously assumed that it will only work on HDMI because of all the details, but I guess not.
We watched Green Hornet in 720p HD and it was very clear. It can really spoil you from watching "standard definition" DVD rips. The audio was also fantastic using the fiber optic cable that my friend, Andrian, lent me. I connected it to the Harman Kardon receiver and the sound was very crisp.
My only complaint is that the video seem to go reddish now and then. I would need to pull the component video cable and re-connect it for the color to go back to normal. The connector seems pretty tight, but it appears like one of the Y-Pb-Pr signal loses every so often.