Oskar, you really do need to upgrade your reciever so you can go all HDMI, simplify your wiring, and get the best quality out of your entire system.

At the end of this year the studio are going to flag the component outputs to be downrezzed to 480p. At that point even your Bluray output would be knocked down to 480p.

My advice is to upgrade the receiver to a HDMI based one.