I have a question about GY-HD 100 and external monitor. I was looking through the manual and you can choose in the menu "video format" composite or component output. When you choose component is the signal down-converted to NTSC? I am asking this as there are a lot of good deals on SD external monitors. I don't need HD for framing and focusing in the field, but i would like to have an option of a bit larger LCD. Any advise appreciated.

I have a question about GY-HD 100 and external monitor. I was looking through the manual and you can choose in the menu "video format" composite or component output. When you choose component is the signal down-converted to NTSC? I am asking this as there are a lot of good deals on SD external monitors. I don't need HD for framing and focusing in the field, but i would like to have an option of a bit larger LCD. Any advise appreciated.

Yes, signal downconverts to NTSC. Stretched or 4:3 or 4:3 letterbox (maybe only HD110 come to think of it does the stretched.. not sure) but yes.

If you have AC power handy, there are lots of deals on decent HD LCD's as well. I use a Sony 15" (or is it 17") that isn't half bad. Much better than any SD LCD, just have the power issue, though there are ways around that as well.

uhh - NO!
COMPONENT output is native 720p, and looks awesome on a good monitor. It's a huge boon for quick accurate focusing in studio and controlled environments. Color accuracy is only as good as your equipment, but even cheaper lcds with component input can be of great help in many shooting scenarios.
COMPOSITE output is SD downconverted.

What would you say is a "good monitor" to project 720p?

uhh - NO!
COMPONENT output is native 720p, and looks awesome on a good monitor. It's a huge boon for quick accurate focusing in studio and controlled environments. Color accuracy is only as good as your equipment, but even cheaper lcds with component input can be of great help in many shooting scenarios.
COMPOSITE output is SD downconverted.

I'll second that, if you've got house current, a $50 720p LCD will look great, razor sharp focusing, but as Sean says, make sure it has component out.