The only reason you would need a HDMI cable is if you want 1080p resolution. I don't think any televisions out there even accept 1080p signals over component anyways. Any who, since you have a 720p television you should not waste your money in HDMI when the best picture you could get is in component.

"A minor update to last month's feature-packed firmware 1.80 is now available for the PlayStation 3. The added .01 corrects the error that sees an HDMI color setting reverting each time the system is turned off. It also promises to improve network stability for PlayStation 2 games that support online play."

http://www.joystiq.com/2007/06/15/ps3-firmware-1-81-update-now-online/

SWIZZIGHT 6/10

Mine = D3dGrlsDntS4yN0