My TV speakers are having issues with the audio on my PS3 and 360. It crackles sometimes. It's just for my bedroom and possibly my small living room when I move out. I'll eventually upgrade, just need something to hold me over for a while.
I just looked and it doesn't look like it has HDMI in for my 360 or PS3. That's what I use currently(directly into the TV) so I don't know if I want to go ahead and buy this if I have to use component.