The pros of HDMI are 1080p video and digital sound are transferred through the cable. The con is the HDMI connection is slightly fragile and is more prone to damage than other connections. The importance of cable quality increases along with the length of the cable. For cables less than 2 or 3 meters focus on the quality of the connectors. I use three MonoPrice.com (no affiliation) premium HDMI 1 meter cables, Product ID: 3991 @ $5.17 each, in my home theater with very satisfactory results.
Hoever, since you are replacing several video and audio / digital cables with one cable you can still save money with moderately priced HDMI cables.
Hoever, since you are replacing several video and audio / digital cables with one cable you can still save money with moderately priced HDMI cables.