Personally I think Component would work better on a single chip DLP system then VGA would.
VGA breaks out their colors into the individual elements (red, green and blue) this works well with CRTs which have Red Green and Blue guns as well as LCDs and Plasmas which also have red green and blue elements to display their data.
Single chip DLPs have one chip that creates a black and white image, and from that the color is added with a color wheel. Component video has a black and white image on the Y cable and then the color data is matrixed across the remaining two cables Pb and Pr.
To me it would seem that a component connection is tailored for single chip DLP since it breaks the video data down into chunks that work well to the way single chip DLP systems work.
Of course I could be way off base... and there's a distinct possibility that the way these displays interpret the signal changes from system to system (for instance it could just compile the imagine completely before sending to the chip/color wheel meaning it would depend more on the video interpretation mechanism as opposed to the display output mechanism).
That's just my impression.
