Video Attachment methods:
[*]Coaxial, mixes all 3 video components & Audio in the same line, worst quality
[*]Composite, mixes all 3 video components into the same line, 2nd worst
[*]S-Video, splits the video into 2 parts (they use the same physical cable but there are multiple wires inside), 2nd best
[*]Component, splits the video into all 3 components and uses separate cables for each, best quality.
I've been told that S-Video to Component is not an enormous jump, but if you have both you might as well use the better.
Edit: Thanks Workin'