I have my Mercury II hooked up to the same Olevia 542i model that Anole owns, using component cables and the picture is as good as the channels are uplinking. BVN is especially good, and RTPi is quite good as well. FTV is not bad, but since I have HD now, I tend to watch UltraHD which has similar programming in HD (although nothing as naughty as "Midnight Hot").
I now know that all the HD sets I have seen at Sports Bars and TV dealers have been misadjusted, because I am finding HD to be more worthwhile than I had originally expected. There is still not much HD programming out there, and anything good tends to be on HBO-HD, Discovery HD Theater, HD-Net and HD-Net Movies, although there are a lot of beautiful looking documentaries on the various Voom HD channels (that are still only on Dish Network). I'm amazed at how little HD programming is on many of the "HD" channels - a good example is "A&E HD" - I tuned in for "24" only to see a 4x3 SD version of the show - which is 16x9 on DVD for all seasons starting with the first, so wtf ?