It's a brand new Panasonic TX-P50S10 so I would expect it to support HDCP.
Sorry to mislead. Only caught the mention of the PW6 without realising it was the outgoing model. But my comments on hdcp handshaking still stand. I had HDCP problems with my previous G98 - turned out the be the cable (specifically the plug) design.
As for component to HDMI, IIRC it will transcode SD on to the HDMI out, but it will not do so with progressive or HD - in which case you need to use the bypass setting for the component input and it will only appear on the component out - in other words its HD component switching.
In the end, I ran component into my TV not HDMI - without having any HDMI switching it was more convenient as the TV only took one (component) input for all inputs and the picture was still very good letting the TV do the scaling - I could not see the difference from my normal watching position and it was purely subjective from close up.