~ Préquis:
Me being relied on the comment of another Amazonaute, I confirm that the component cable (YUV, Reference: SCPH-10490) is perfectly compatible Playstation 2. A little pricey perhaps, but it's a SONY product and quality is the appointment: Gold-plated connectors, 3 meters of cable.
To use, it is also a TV with YUV input (5 records: Y, Pb / Cb, Pr, Cr, L and R, respectively, green, blue, red, white and red). A check on the back of your TV or on manual
~ Interest / Result
Tested on a Philips TV full HD. After adjusting the screen, I confirm an improvement of the image. Nothing to do with the display via the cable provided with the console: the colors are more vivid and has more foggy and this unpleasantness. Aliasing is a little light, but lower the sharpness can be rendered very decent.
The result is obviously not comparable with that offer PS3 or XBOX 360 HDMI, but it's still very acceptable. I can still enjoy Final Fantasy 12, Gran Turismo 4, God of War II, and that's just what I expected. ;-)
So be reasonable and do not expect an impossible miracle.
~ Installlation Settings:
Before connecting the cable component to your PS2, I remind you that you must first configure the PS2 YBrCr mode (see user manual of PS2), then turn off your console and connect your new cable.
If you try to connect the console without this setting, you will have a black screen.
Also, check the manual for your TV: It is possible that the channel is not the same whether you are connected to YUV or RGB.
Finally, if the aliasing bothers you, try reducing the sharpness of the image on your TV. And possibly try to switch to PC mode if this option is available on your screen.
I think the record will be much more enjoyable.