I got my new slim PSP in Japan a few weeks ago and brought it back to USA. I purchased the TV out to component cable as well, so I tested the connection.
Here's the photo of how it looks like when I output the gaming screen. Looks great as 16:9, but the size of the output is not full-screen, and I configured the TV's zooming option to fit with the full-screen but it didn't work out very well. Samsung's zoom option only widens the height, not the width, so the aspect ratio is not preserved when being zoomed. It sucks.
I'll read the TV's owner manual and probably try 4:3 output option as well to see if there's something I can do.
The new PSP also can output the LocationFree to the TV screen as well. I have a Mac client and don't really need another client, but Mac version doesn't preserve the aspect ratio when being full-screened and PSP one does, which is cool. The quality of location free TV is great too.