Is HDMI connection better than Component?

50" plasma with HD satellite & thinking of purchasing Toshiba HD-DVD. IS HDMI the only connection for a HD signal. and if so if i buy a HD dvd player i guess i should not use the component outputs...
I feel that an HD feed from my Satellite receiver does looks demonstrably better via HDMI than a Component Video feed to my 50" Panny Panel.

With my DVD player, component is just as good...BUT my DVD player is not an HD unit. Artifacts on panels being what they are, I'm willing to bet that HDMI from the HD DVD will be the way to go- keeping the signal in digital domain all the way to the display.
Yes, definitely use the HDMI connection(s).
With the toshiba the hdmi will transmit 1080i for hd-dvd and normal dvd's that it upconverts, with component you get 1080i for hd-dvd but only 540p for standard dvd (you lose the upconverting) so hdmi is the way to go if you have the input.
Additionally.....Suggest you get the Toshiba HD-DVD player from somewhere that you can take it back, with no penalty/restocking fee. You may want to after trying it.
It is very s-l-o-w in responding. And not ALL movies are that good on HD-DVD. My upconverting DVD player is almost as good as SOME of the releases look. (I've got a reasonably decent HD projector on a 120" screen)
If set on going HD-DVD, I would recommend that you wait on the next generation of players. IMHO, Both HD-DVD AND BlueRay blew it BIG TIME with their new hardware releases.
Good luck and good listening!
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I would agree with these comments in 99% of all cases. However, there *is* that odd instance you hear documented every once in a while where component does legitimately look better. So, maybe borrow a decent component video cable if you can, or find a Cable Closet-type place with a fair return policy, and try out both just to be sure.
I think most of the responders have it right. Don't assume anything. However, one cable for audio and video would be cheaper and less cumbersome than 5 cables; doing the same job.
Convienence factor, Yes HDMI will prove far easier and as good of picture with CERTAIN components over the Component, mostly this is only true with some first generation HDMI units not getting it completley right in the first place. However, some components just have better processors and up-scaling over the component jacks vs. HDMI depending. Beyond that component and HDMI Cable materials themselves should render identicle results, a Component cable of as high a grade of a cheap HDMI however is much more costly, and of course larger and harder to run and route thru physical barriers and things, this also breaks down to most HDMI can run a longer distance without any loss or artifacts. One other advance in the HDMI connection with my current equipment over some Component connections is it seems to have corrected any boot up errors, you know when back in the day if you turned on your DVD or other source with component and the TV at the same time, or 2 close together during initialization it would scramble the picture and you would have to loop around the inputs on the monitor or shut it off and on again to correct the scramble.
you know, i own the tosihba hd-dvd player and i think the upconversion to 1080i for standard dvds is far superior to any other player i have owned or seen. (under 1000)

to say that the HD-DVD format release was a bust is so unfair and untrue. It has been way more successful than the blue-ray product. IMHO you havnet owned one of the new players and viewed it in your home. If you had owned it unstead of simply reading a review online, then you wouldnt have made that statement. HDDVD video quality is simply stunning and the audio is so much cleaner and uncompressed than i have ever experienced before.

not all hdmi players are created equally. if you buy a cheaper player with a hdmi connection you have to wonder where the manufactorer made the compromise. the only way to really know is to A B the connections.