I need to extend my PS3's component audio to my sound system. Are there specific component audio extension cables that I can buy or will a regular composite extension cable work instead? Pretty much everything I google only compares the video quality of component vs composite, but not really anything about the audio.
Also, does the price/build quality of audio cables matter too much? Will more expensive audio cables yield better results for a non-audiophile? I know HDMI cables are all pretty much identical regardless of price.
I am afraid you're mixing terminology.
"Component video" is three signals, commonly carried by red/blue/green cables.
"Composite video" is one signal, commonly carried by yellow cable.
There is no "red and white" video.
On top of that, you have audio - red and white.
If I was you, I would be more worried about the quality of video cables. Generally speaking - the thicker the cable is, the better is it. Go to your locak electronic store, they should have abundance of any-to-any cable.