I don't own any next gen consoles because I'm still in love with my ps2. For years I've using a rather large JVC tube TV as my display and standard AV cables as my connector. The TV is about 12 years old and PS2 graphics have always been a little bit fuzzy. If I were to buy a name-brand LCD TV and component cables, would I see a dramatic difference?
If you are using component cables for video, yea you will probably see a difference. The colors will be crisp and clear. With a new LCD tv, you will have a better contrast ratio, so that will definitely make the games look better IMO.
most ps2 gamers and xbox even dont even know what quality awaits them with a HI-DEF cables http://www.hdtvsupply.com/10ps2covica.html ............now here is the kicker http://en.wikipedia.org/wiki/List_of_HD_Enhanced_PS2_games you'll see that most ps2 games dont support 1080, the cables do increase clarity though oh ya your going to see A DIFFERENCE, epically since the DLP is getting dimmer and dimmer each day -tripplite
