*hands every one a cookie*
just to put in the official A/V tech point of view.
You are both correct there is both analog and digital component video...
HOWEVER component video on the consumer level is only analog and is just a breaking up of the colour into Red, Green and Blue signals.
Digital component Video is in fact called RGB-HV and is only used at the professional level to split the signal so that it can be sent further distances. It is not a 3 connector cable but a 5 connector... Red, Green, Blue, and Horizontal and Vertical Sync (the digital signal component's are in the H/V connectors)
Hope this clears things up.
*passes out milk with the cookies*
Even this is not technically correct but I'm not going to go into a in-depth discussion about it hehe.