I use the cheap Rectocon S-video/Composite switcher for Component switching and its works just fine. Hell, I use Composite Red/White/Yellow as my Component cables on my XBOX and HD receiver. If there is a picture quality difference, I can't notice it.
Good Choice! I own both systems and leave my PS2 hooked up in my guest room on my 27" tube and have my XBOX on my HDTV. IMO, no comparision in picture quality!
I think the best deal right now is to have CC pricematch the Toys-R-Us Bundle which includes SM Sunshine, Scooby Doo, Extra Controller and a Memory Card for $199. CC will give you 10% of the difference and you will get the $20 GC for Metroid. If you use your charm you may even be able to get...
You can get it at Amazon's Canadian website for around $56 shipped or at playcentric.com for ~$58 shipped with the appropriate coupons. I just received mine last week from playcentric, which is an awesome deal IMO.