The Amazon link is the right product.
There will be many programs broadcast in 720P or 1080i. There are also quite a few broadcast in 480i (standard definition).
The common color code for composite video cable and jacks on consumer grade equipment is: red=right audio, white=left audio & yellow=composite video (luminance & color signals combined).
http://en.wikipedia.org/wiki/Composite_video
Component video is less common and there's more than one format.
http://en.wikipedia.org/wiki/Component_video