A leaked memo first published on Kotaku shows that the newest PS3 model will no longer allow you to play Blu-ray movies in HD over component.
The memo also states that HD gaming will be barred unless you use an HDMI cable, but Sony has confirmed that HD gaming, and non Blu-ray activities, will still be possible over component.
The reason lies with AACS, the company that licenses the copy protection system used in Blu-ray, and not Sony. The AACS licensing states that all Blu-ray players manufactured after 1st of January 2011 will have to prohibit analogue HD output, and Sony has had to follow the rules when producing their new PS3.
"The new CECH-3000 series PS3 requires HDMI only for BD movie output in HD, in compliance with AACS standards. PS3 continues to support component output for HD gaming and streaming content," a Sony statement said.