Composite is video on the yellow RCA cable and r/l audio on the Red and white RCA outputs.
Component has the same red/white RCA audio but video is on three cables red/green/blue (analog HD output).
Everyone was talking about using component to offload content, I assume they were offloading to a DVD recorder. Does a DVD recorder with a component input exist or are they using something else?
I quit archiving content a few years ago, I can go online and find just about everything in a few seconds - much faster than digging through physical media!