Component is the second best option for video games consoles. Component video is Y/Pb/Pr and can be thought of as an even more separated S-Video. Y/Pb/Pr is a compressed form of RGB (which I will get to tomorrow) and comes in a couple different forms. The digital equivalent is Y/Cb/Cr and is used in HDMI if you so choose. There is no colour bleeding, and even the analogue form, Y/Pb/Pr, supports high definition. Y/Pb/Pr is also slightly sharper than S-Video, but a tiny bit less than true RGB.
Every mainstream console PS2 to the Wii U supports component video, and all of them support enhanced definition (480p) or better, except the PAL GameCube and PAL Xbox (sorry PAL gamers, you were screwed over as far as higher resolutions go). Even the Super Nintendo can be modded for Y/Pb/Pr video output at 240p and the occasional 480i.