As promised, I've gone through and hacked up my component cable to make it also support composite output.  Now, I no longer need to switch cables because my TV can't handle 480i over composite.  If you're interested in doing the same, I suggest you visit my instructable: Nintendo Wii combo Component/Composite Cable.  If you've got feedback, let me know and I'll see what I can do about it.
Overall, this wasn't that difficult. The hardest part was the paperclip.
				
			Overall, this wasn't that difficult. The hardest part was the paperclip.
 
					
				