No wonder the Red Ring of Death was a thing back then. I still remember the people "fixing" the red right of death by wrapping the original Xbox 360 in a towel and heating it up/overheating it on purpose, to try "reflow the circuits"
I had one of those component cables for my PlayStation 2 so I could play games in progressive scan/480p, and Gran Turismo 4 at 1080i. The exact same cable also worked on the Playstation 3 for HD gaming at 720p or 1080i, though it wasn't quite as crisp as HDMI.
I meant that 720p on component looked slightly worse than 720p through an HDMI connection, likely because HDMI is a fully digital signal and component video is analog. But yeah unless you sit close to the screen or have a massive screen/TV, 1080p is perfectly fine.
It's only really good on big tvs. 4k in smaller screens is really unnecessary. 1440p makes some difference in bigger monitors, but for like 21" screens 1080p is great