Can AppleTV output on multiple outputs at the same time?

Posted:
in iPod + iTunes + AppleTV edited January 2014
I want to get a AppleTV but I plan to use it on two TV's at the same time, one using HDMI, the other component. As well, one of these tv's is a Sony HiDef TV that I'd use 720p or 1080i. The other that would be hooked through the component cables is a standard analog tv and appears to only be 480i even though it has component inputs.

My question, can I hook both tv's up at the same time and have output on each? I know the appletv has a section to select output (480i, 720p, etc) but if I do 720p will it output for my hi-def tv's but as well be viewable on my standard tv or will I have to change the mode whenever I watch it on that tv?
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