I think some people are still thinking about the whole "HDMI only" panic we went through a few months ago...
HDCP is on all the movies, of course, which means that only HDCP compliant TVs will be able to show the movies through HDMI.
But it also means that you can get a perfectly acceptable non-digital HD signal through component. This will be true for the next few years (if we trust the powers-that-be). Eventually we won't be able to see movies in high definition through analog connections such as component, only through HDMI or HDCP-enabled DVI. Again, this is true at the moment but i'm the first to admit that things could change between now and 2010... Look how many things changed, how many U-turns we saw happening in the last year or so...