I recently bought a PS3 on ebay. I know it comes with the yellow, red white cords. I have a hdtv with component and hdmi input. What cords am I gonna need for high quality. A HDMI cable? Components Cables? Both? Please help. Didnt get a straight answer in dvd theatre talk. Thanks.

if your tv accepts HDMI then you should use HDMi check here for cheap prices and reliable service.

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Both HDMI or Component will provide either 720p or 1080i resolution. If your TV can handle 1080p, you'll have to use HDMI. If you plan on using Component, the PS3 uses the same output jack as a PS2 so you can pick up the cables made for it and save money. I'd suggest using HDMI if you can though.

Thanks. I have HDMI input and can get a cable for about $5.

Is this true for blu-ray output as well? I only have one HDMI on my plasma, currently being used by my HD-DVD player, and if I can use PS3 and Bluray over component and still get 1080i, I'll just stick with that for now.

That wasn't a straight answer?

I think the thing people complain about with is that TV's that only support 480p and 1080i, it will not convert a 720p image to a 1080i (like the 360).

I hooked mine up like this:
HDMI from PS3 to TV
OPTICAL (sound) from TV to receiver

This worked just fine for me, as I had to play with a few settings to get all the sound to output correctly.

If you have a HDMI receiver, that would be even better.