On the other hand, I am planning on picking up one of
these which may (hopefully, seemingly, from some reviews I've read) convert the svideo to 480i component for those that want to plug it into their shiny new TVs.
....I'm pretty sure this adapter does the exact opposite, gets a component signal and makes it S-Video. Moreover, it would make no sense at all to do S-Video->Component since you can't make a signal GAIN quality.
Actually it does make perfect sense, but only to me. It's not about increasing the quality, it's about compatibility.
My video projector is on one side of the room, while my tuner and audio equipment are on the other side. Between the two is a long component cable. This works great for all of my devices that have component out, but I recently wanted to watch some old VHS so tried to hook up my VCR which only has svideo. So too the Pandora. My choices are to either run another long svideo cable to my projector, put my VCR (or Pandora) near the projector and run an audio cable all the way back to my stereo system, or find a simple adapter to convert svideo to YPbPr. I can imagine a lot of new devices not coming with composite or svideo inputs in the future. The Y in svideo is directly compatible with the Y in YPbPr to produce a 480i image, it's just a matter of figuring out how to split the Chroma into respective parts.
Incidentally, that cable does actually do both, sort of. It's designed to take a component input and feed it directly to a 7 pin svideo din where the Infocus Projector can actually receive it on the extra pins. It doesn't do any converting, it just redirects the lines. It turns out it "works" the other way because a lot of devices that output svideo that have a 7 pin din (notably newer laptops) also output the Pb and Pr lines along the exact same pins. Reviews stating it worked despite it's original design were what I based my original optimism on. So again, no actual converting takes place, just lining up the pins.
That being said, I'm still optimistic about getting it to work. At the least I should be able to get a green and white image if I just splice the Y line.