HD movies only through HDMI?

[BMXTRIX]

Isn't PS3 going to be hdmi b/c it uses blu-ray, wonder if the digital connections will still need to be HDCP compliant

My understanding is that games will not be HDCP but movies will be. All blu-ray movies will be HDCP over HDMI, but you can play them back at 480p over component. Blech.