HDMI is prefered (just the one all-in-one cable for DVideo and DAaudio)
Component Video along with Stereo Audio makes up 5 cables
HDMI offers features where Component can't offer like plug-in play digital HDTV boxes or SAT.
If you really want to know which one does look better? Buy both cables and do a visual comparsion as your taste will be different than anyone here. Don 't spend a lot of money on cables. You would be surprise that most OEMs are just as good.
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