I've noticed that some TVs don't even support component well. I remember having a problem with my friend's TV - if I remember correctly, the component had some ghosting going on, but only when the sound was plugged into the TV as well. Take the sound jacks out, and things were fine. Or something. Either way, HDMI was fine.
Component video, three plus two cords as it may have been, can do everything HDMI can, without the headache of HDCP. Fun fact, how to crack it is public information. Intel will take to the courts anyone who tries to mass produce such a device, though.
Well sorry, I felt I had to vent. I didn't do it enough before, apparently.
Oh believe me, you don't want to know what I've got to say about HDCP. If you ever caught me about a month ago, you wouldn't want to hear what I had to say when I found out that a bad HDCP implementation actually BURNED the monitor (or more accurately, the HDMI port the cable was connected to!)
If it wasn't for the fact the person who owned both sets of equipment now has no standing (Monitor got returned for replacement, so did the BR player for a refund) honestly, he could have sued them to the moon.
(Yes, I can swear very, very well. In multiple languages. I actually had a police officer ask outside the window what the problem was.)
Anyway, the problem with component is that very few places set up the component part properly - it's incredibly rare, mostly cause the builds are just slapshod. The ghosting you describe is most likely the fact that either intenally (or the cable itself) has some sort of grounding issue. More likely it's the grounding of the port on the TV.
You can fix that by converting the L/R to a 3.5mm or 5mm plug and throwing it into a speaker system though.
Most TV manufacturers don't actually EXPECT you to use the Component ports for anything other than SD oddly enogh. (Which led to an amusing conversation with Samsung's sales desk actually, which involved a conference call from Korea.)
The sad part is that Displayport is basically HDMI without HDCP (And consequently without the royalty fees) however not many devices (and no consoles, sadly) support it, since it's Apple proparitary. Digital DOES generally perform better over longer distance cable though, so in some respects digital's superior. Then again, there's no stupid things like HDCP on analog...
There ARE a few HDCP strippers out there mass produced. The trick is none of them advertise the feature. It just 'happens' to work.