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This might not even be worth it, but it would be interesting;
Sega Genesis Component Video Part 2 - YouTube
^ above a guy figured out how to get his cables to output things like early sega genesis models to component by using a European scart -> component adapter.
If they make things like that, I'm sure they make vga -> component adapter.
A vga box already makes the dreamcast graphics look nifty, but would adding this component cable output make any difference?
I'm actually not really sure why this guy is seeing any difference, as its a mere cable adapter, his setup has no hardware change nor external influence on the graphics, other than possibly a graphical enhancer built into his TV. His his video just a random b.s. post, or is this actually a viable option to make puuuurty genesis / saturn / dreamcast graphics?
edit - the same guy has posted multiple videos displaying comparison of graphics with s-video and his component setup, with different systems and TV's as well.