I have an LG 50 PX5D, DirecTV and a Rotel CD/DVD player, rdv-1040. I have the red, blue green wire connected b/w the DVD player and the TV, Component 1. I play the dvd and hear the movie thru my surround sound system, but no picture. It just flashes on the screen "invalid format." It was all working when it was connected to another TV.
I have heard bad reviews with Rotel RDV 1040 (bad disc, cannot eject disc) - but you you can try using other wires. Have you seen any other wires on it.
Red/Blue/Green combo - This is Component Video, a very good way to connect tv to source. This is VIDEO only, and will need to be paired with an audio cable of some kind.
If you go composite video (yellow plug) you'll have a grand total of 3 plugs (1 video/2 audio). For COMPONENT video, you're looking at 5 plugs (3 video/2 audio). Audio plugs will always match white with red.