Fair enough. Many older HDTVs do not have HDMI but all the current and future ones do and will support HDMI. And no, there isn't a huge difference in the picture quality between component and HDMI, but lets think of the future here. The PS3 is a huge part of the Blu-ray strategy but without HDMI you aren't going to get 1080p and the ICT thing is huge. If, and we are saying if, the movie studios start using the Image Constraint Token, then you less expensive PS3 will not be able to watch your expensive Blu-ray movies at any resolution past 480p.
Sony has been claiming the the PS3 is future proof and we just do not agree with it concerning this model. People do not care about the lack of built-in card readers or WIFI but HDMI is a major concern. When Microsoft launched two different priced XBOX 360s, they were just simply difference versions not different models. You could always add to you cheaper 360 what you choose not to buy initially, where with the PS3, you cannot simply buy an HDMI port.