Zeta - I tested my Duo-R with Component Video today on my 47" Bravia 1080P, and I gotta say it actually looks nice!
Of course alot of work involved to get this - RGB Modded Duo, with Amp (better PQ) and a RGB to YUV converter.
But with the correct modding skills, and a box that can be purchased around $60, good PQ on a LCD is possible. I will be submitting a full review later, with tests of the component Video on 4 TV sets (2 HD, 2 CRT) with lot's of side by side photos of Composite VS Component!
There is one thing that Zeon pointed out to me that the LCD's have trouble with - correctly displaying shadows (I will display in the photo examples). However this is a minor annoyance, the picture really does look good. I do agree however that CRT's are going to be the best bet, but good PQ is possible on HD set.