uhhh does it have red, white and yellow inputs? those are composite?
or does it have the single thicknet cable that you plug in? That's coaxial.
composite is better than coaxial.
And yes, some sdtv's use component for better picture quality, but it's really not that noticeable and not worth getting an sdtv with component.
Some tv's have an s-video input, but it doesn't sound like yours does.