I found this website that might be useful for those who are interested in the component video mod for their turbo/pce systems. Apparently there are some test you can do to check to see if your HDTV supports 240p via component.
http://www.retro-otaku.com/2011/06/is-your-tv-240p-compatible/Taken directly from website:
"So, how do you test your panel’s compatibility and what are your options? I’m no expert, but I’d suggest that if you have a Wii, change the Virtual Console to output in 240p and see what happens. Aside from that, I don’t know too many consoles that can do 240p and output component video natively. If you have a Playstation 2 and a set of component cables, you have a couple of choices:
Fire up one of the Sega Ages releases that contain Mega Drive or Master System games and change the display settings in-game to 240p. I know this option exists for Phantasy Star Complete Collection, Gunstar Heroes Treasure Box and Monster World Collection.
Load up Ico and see what happens (must be running in 60hz, the PAL version will give you the option)
All PSone games running out of the PS2 apparently run in 240p also (I’m assuming this only counts for NTSC games, not PAL titles), so give that a try"