Yes BUT only the yellow has video quality sheilding.
i did an quick test of the cabling in question. My tv has multiple component ins so this was easy to setup. I used actual component cables on one of the inputs and plain 'red,white.yellow' cables on another one. I was not very suprised to find no noticable difference in PQ. This was true at all resolution settings I have. We are only talking about 3' here. I would have been suprised to if COULD see a difference. I bet I could use phone wire, at 3', and you couldn't tell a difference.