For short runs there won't be any difference with the exception of the bulk of typical component cables and having to run audio separate. HDMI issues tend to be device related (handshake), not cable related more often than not, unless you are talking long runs as mentioned above. In terms of audio, if not using HDMI, you will NOT get the current lossless audio formats, you will only get the "core" Dolby Digital and dts, so that could be a factor as well.