Bob, there wouldn't likely be a visible difference with component cables, but for another reason you should possibly reconsider your plans. Your Panasonic plasma is an excellent set with notably good upscaling(a plasma display has to scale an input to meet its "native resolution" if a player or receiver hasn't done it previously), so an "upscaling player"(and the switcher)may give you no visible benefit.

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Enjoy the music, not the equipment.