I just recently did the component mod for my Duo-R. I think people might stop just short of saying 'identical', but it'd be very, very, VERY close.
I'm sure someone will chime in and correct me if I get anything wrong here (as I'm new to this), but RGB basically carries the red, green, and blue signals directly to the television, as well as a fourth connection for sync. Component carries luma and sync on one connection, then the other two connections are for the difference between blue and luma, and the difference between red and luma. It doesn't send green, as that can be derived from the other signals. So, there's one less 'pin/cable' of data, and there's a bit of processing to figure everything else out, but it should be very close, and WAY better than composite and rf video.