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My question is how many devices can I connect to the HDMI?
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HDMI is a point to point connection, just like all of the other home theater type interconnects, so you can only plug a single device into an HDMI input in your monitor.
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Does a "switch" exist for this and if it does will I lose any quality?
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Yes, switches exist, but they tend to be abit expensive. I recall Gefen makes some switches. Some high-end receivers and pre-amps are beginning to support HDMI and/or DVI switching as well. Because HDMI is a digital signal the switch should not impact the video or audio quality, unless it's doing something really stupid. Keep in mind that HDMI is basically DVI version 2, and as such a DVI switcher should (in theory) work with HDMI devices with some adapters, with the exception of perhaps HDMI specific capabilities.
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Finally, is there a noticable difference of good component cables V HDMI on a progrssive scan DVD Player?
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This largely depends on your display device. Since you're using a plasma TV, there should be a noticeable difference. The reason being is that DVDs are a digital medium, and plasma screens are fixed pixel displays (which in turn means they require a digital signal to drive them), but component cables are an analog connection. So the DVD player would need to convert the digital information to analog, and then the TV would need to convert that signal back to digital form so it can be displayed. This D/A/D conversion is inherently lossy and will degrade the image somewhat. Whether it's enough difference to be noticeable is debatable based on other factors.
Hope this helps,
-- Dave