I'm new to this so this has probably been addressed before but here is my question.....I have a HD ready Toshiba projection TV that will do 1080i with component input......is there a cable out there that will go from HDMI to component or DVI to component that you can buy and use?........thanks

The short answer is NO.

HDMI is digital, component is analog - an analog input cannot take digital signals; you will have to first convert them to analog.