Sony has finally published the manual for this player: http://www.docs.sony.com/release/BDPS580.pdf
On page 22 it states the following:
When connecting via the COMPONENT VIDEO OUT jack and [Component Video] is selected, BD-ROM playback of protected content is only supported at 480i output resolution.
On page 22 it states the following:
When connecting via the COMPONENT VIDEO OUT jack and [Component Video] is selected, BD-ROM playback of protected content is only supported at 480i output resolution.