Upconverting DVD to HD

My DVD player just died, and I was looking at a new one at Costco.com - they
have a Philips unit that "upconverts" to HD. It has both HDMI and Component
Y Pb Pr out.
http://www.costco.com/Browse/Product.aspx?Prodid=11099258&whse=BC&topnav=&browse=

The problem is, I only have one HDMI input on my TV, and it's taken up by
the cable box.
I don't want to buy an HDMI switch.
So - does anyone know if I will get an improved picture (over a standard DVD
player) using this DVD player with the Component interconnects?

Thanks,
BillM


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