HDMI switching
The video quality of component and HDMI is comparable and there are never any compatibility issues with component video.
In my opinion, the $5-600 price difference between the Yamaha RX-V2600 (w/ HDMI) and the Yamaha RX-V2500 (without HDMI) would be better spent on speakers, better display, outboard amplifier, or other HT components.
Also, if you only have one HDMI source, you can directly connect it to the TV.