Component cables only transfer video, not audio so they do not have better audio. If what you are trying to say is that by running component for video and toslink or coaxial for audio, then maybe.
If your TV has an HDMI input, I would use it. The video transfer through HDMI is pure digital as opposed to component which transfers the data in analog form.
If you do not like the audio from your HDMI, then just run your HDMI to directly to the TV and toslink (optical) or coaxial to your receiver. I believe that most people on this forum would agree that HDMI is clearly the better choice. Its a no brainer.
As for your comment on pricing, go to monoprice.com. Awesome cables for a fraction of the cost of high-end brands.