Only if you find an appreciable difference for DVD's in progressive scan. As you know, you must activate PS in your DVD if you want to have it with Component (read your DVD player user guide).
With CRT's, in most instances, interlace is better than progressive. That applies to my Toshiba CRT RPTV, for instance. My DVD is connected via Component but I prefer leaving the image in interlace.
Therefore, if you wish to remain with interlace for your DVD, you may as well use S-Video and not bother with a switcher.