Ah ok I see. That's odd, RGB SCART to component should be basically lossless so the image should be perfectly fine, unless the CRT itself is under the weather of course.
Anyway the FM is still pretty good, I always found its menus a little clunky, but once you get the hang of it and set it up there's not a lot you need to tweak. Just don't try to play Die Hard Arcade or anything that does the old 240p->480i switching as it's sloooooow as anything at that.
Arguably it still has the overall best game optimised deinterlacing so it's great paired with a PS2 too.