JuanGrande is the only one who actually knows what he's talking about. The other two guys not so much.
You will get noticeable results by getting the component cables in your original link. The colors will be much better and some of the subtle details that didn't show up or were fuzzy will be sharpened. But be aware that the aliasing (jaggies) will be much more noticeable also. For example Final Fantasy X will look pretty pixelated (in game graphics, character models). It's kind of like sharpening a picture in a photo editing program.
PS3 component cables will work on a PS2. If spending $20 isn't a big deal then go for it.
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