I too have an LG monitor TV which is 21.5 inches in size with all the inputs you mentioned, but the component input is faulty, screen goes on and off abruptly, I contacted several times the service center and the techguy over there says that my ps2 and ps3 are faulty! It can't get more frustrating than this. I stopped calling them, stopped using my ps2 (though many games I haven't touched yet and want to play desperately) and got a ps3 and am using it with hdmi, which works flawlessly, thank GOD. I am planning to sell this tv off now. All the inputs are perfect except for component which very few use in India. Besides its doesn't bother all the time but you know while gaming if it goes off and on at a crucial stage, how much frustrating that is. So I am planning to buy this philips 24pfl5505 which has no reviews on the internet and its a model which has been launched only in India. I wonder in such a big crowd, no one has cared to make a review on this tv. I should be starting a blog for such monitors and tvs now, so that it would help people like me.
Anyways, the thing is that no one knows whether this philips model has a component input or not and whether it can output 1920x1080 resolution while it is connected to my PC. The website and the letsbuy.com page mentions the max resolution to be 1280x1024 which would make the pc look really disgusting on a 24 inch screen!
So please if somebody has seen this tv anywhere, please clear up my doubts.
Thanks in advance.