The advantage is that you don't have comb filter artifacts which you have with composite video. It provides approximately twice the perceived picture detail compared to composite, and about three times RF. To hook it up, simply use an SVideo cable from your 501 to your TV, set your TV to use the SVideo (may even be automatic if you plugged it into the same input set you used with your composite cable), and be sure to leave the sound cable you have for your composite connection in place (if you currently use RF, which is the worst picture, and only mono audio, you will need an RCA stereo patch cable from your 501 to your amplifier (or TV if you use the TV's built-in speakers))