Our relatively new Sony TV doesn't have component or composite input, hence the need for a converter. But you want to use a scaler versus a straight signal converter because HDTVs don't always support 480i input (meaning that you wouldn't get a picture at all), and even fewer support 240p, which is necessary for some PS2 and most PS1 games.

A scaler like the RetroTINK can add visual enhancements, but more crucially it ensures that your TV receives the signal in the first place.