Playstation 2 component output issues... weird

I'm finding now that on my PS2, when set to component out, I've got a couple of lines going up the screen slowly and wrapping around. If you pay close attention, it's really the screen is split horizontally, with one half having a slightly pinkish tint, and the other a greenish one, and the separator lines move up slowly and wrap around. Has anyone seen this before? I have yet to fully debug it, but I'm almost 100% certain that it's coming from the playstation (since other component input coming through my splitter box thing are projecting fine). I just hope I can get enough life out of my PS2 to get through maybe another year and a half of playing (got a bunch of RPG's and stuff to get through before investing in a next gen console).