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In an odd move, Sony is set to drop the ability to view HD video over component cables in its next PS3 hardware revision. Originally thought to be restricting users to HDMI use for all aspects of the PS3, Sony clarified that it was only for viewing BD movies. The move has been justified as, quite bizarrely, a means to combat piracy. The whole situation seems to be slightly forced upon Sony as they claim the change is to comply with the current AACS standards.
This whole situation could pose a serious problem for people with an older HDTV who enjoy watching BD movies. I was quite worried at the time of the original speculation as I use component to capture videos from my PS3. Thankfully it won't be another huge blunder on Sony's part for most people as we can still use whatever means we want to view our games.