I agree that you can get component cables relatively cheaply at Radio Shack (I don't shop Sam's place much.) What you should do is conduct a test and see for yourself. I used Tim Burton's "The Nightmare Before Christmas" and tested s-video vs. component on a relatively cheap Samsung DVD/VCR player hooked up to a older Sony 32 XBR Wega. I did see slightly more detail with the component video cables, especially in the shadows/blacks/grays. There was also some difference in the colors displayed but unless I had them side-by-side I don't think I'd be able to tell the difference. Just MHO.
Once you decide, just return the cable that you don't need...good luck and keep your receipt.