Component is possible in theory, using the
Neobitz adapter (which was designed with the Neo-Geo in mind).
You connect the R,G,B, Composite SYNC and Ground lines from your Amiga to the board, then wires from the board to RCA jacks/S-Video sockets depending.
They will also give you Composite and S-video in NTSC so handy if you live in the US.
There is a member here who posted a good video on Youtube showing the process with an S-Video/Composite only version on his A1000!
Just type in "amiga 1000 s-video" on Youtube.

I'm not sure if anyone has tried the Component version yet though.