This thing called Christmas has drained my funds for a new DVD player

so need to know what's best to do...!
I am running my TV digi-box via a
JS Tech RGB to component into a Panny PW7, which is fine BUT my old Sony DVD player has no component out. Having no money left for the new player till the end of Jan, shall I just run s-video from the Sony and let my Yamaha amp up-convert, or spend 40 quid on something like a Panny S29 which does have direct component out?
I suppose the question is, will the PQ be very much better from a 'cheap' DVD with direct component out than s-video thro' the amp, which I suppose I could put up with for a few months and over Xmas. Just don't want anyone coming round wanting to watch a film and thinking the picture's crap!
Thanks all...