Oops, I didn't realize there were replies to this topic until just now
It is 100% possible to get component out of a PCE, same as most systems which have tapable RGB. The jrok kit reportedly works well; I believe GUTS has used one with his Duo with good results. I *almost* purchased one of those myself when I first got my Duo, but I had my doubts as to whether it would work since the jrok rgb-svideo board was reported not to work. Apparently the component board does, so the jrok is an available solution for someone who wants component right now.
http://www.jrok.com/hardware/RGBv4/index.html It would be easy to mount this inside a Duo, do away with the existing jacks on the jrok board and use panel mounted jacks. I will more than likely design my own minimal component board in the future, but I cant say when. May be far down the road as its not a priority right now for me.
SignOfZeta, I disagree on the s-video quality issue. It certainly isn't native RGB, but I feel that its vastly superior to the existing composite signal. I didnt think I would be satisfied with it myself since im a bit of a video freak, but at this point I dont even plan on looking into component for my personal Duo. Of course svideo is still a combined signal so it depends a lot on the quality of the comb filter in your TV (for those non-video nerds, a comb filter seperates composite/svideo/rf signals back into native RGB inside the TV). That said, I think most people are happy with svideo quality for classic systems. I am.
Michael, I sent you a PM.