HDMI isn't possible on the WII, .... or is it?

Edit: speaking of component... does anybody know if there's some box in where you can put more than 1 component cable, like with scart cables in the past, and then being able to plug it on your TV? I also, only have 1 component input :(.

The Wii doesn't have a digital output, so no HDMI.

They do make component switch boxes, but they're usually expensive.  Might be able to find a cheap one online.

All the reviews I've read of RE4: Wii Edition have said that it gets rid of the Gamecube's black bars and supports full 16:9 widescreen in progressive scan.

 I own RE4 it does support 16:9 and 480p. It was one of the biggest editions to the game. I still have my GC version it supported 480p but not 16:9.

@ Onna
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I have one that's older and doesn't have the remote features. It's the only way to go if you have multiple systems. It simplifies the process and doesn't hog your TV ports - and even does optical. I highly recommend buying one.

I was using composite for five months and then switched to component for the widescreen. Never looked back. I have a 42" LCD TV also.

Edit: Whoops, it's a plasma not a LCD. Sylvania 6842THG. I adjusted the sharpness a little. The component cables brought the colours out. 

Component, of course! 

I upgraded to component cables and haven't looked back. The quality of the image is significantly better, even for gamecube games. I suppose if you had an LCD with a really low quality scaler unit it might help to have a blurrier image to start with, but the additional sharpness is very much welcome for anyone with a solid HDTV. 

I just checked it and your right it supports 16:9, I though it was 480i  becuase I usually check how big the difference is between 480i and 480p on my games but when I checked RE 4 it looked like the same to me, so I based my comment on my experience, sorry if I confused someone.

I guess maybe i didn't make my point very clear but I do appreciate all the responses. I agree that composite beats component every time. Period... I understand that. What I'm seeing, though, is a Wii on composite makes everything "sharper" and jaggies seem to be much more pronounced. I guess it's a trade-off.

That said where can I get a CHEAP wii component cable? I'd prefer HDMI, of course as I have 3 unused HDMI ports and only two component ports but that isn't an option so...

 You mean Component beats Composite I assume. Anyways, try lowering the sharpness setting on your TV. That may help with the jaggies. Also is your 360 hooked up with HDMI? I'd recommend that since you can use it as an upscale player then. Newegg.com has plenty of cheap HDMI cables for sale.

Cheap Wii component cables are available at monoprice.com

If you're seeing nasty jagginess with the component cables, it's probably a problem with your LCD scaler.  If you have a scaler that doesn't do high quality scaling, then you'll get a very jaggy result as you upscale to a fixed pixel display like an LCD.  When I bought my set, I purposely went with a set that had the highest quality scaler I could find, since much of my content (from DVDs to the Wii to previous consoles) would be standard quality, and it was important to me that such content looked good as well as 1080i/p and other HD content.