Nope, i used to work in an electronics company.. newer cables like the most recent ones can handle higher speeds for audio and video transfer.. as u may know hdmi is the only cable that has audio and video in 1 connection as opposed to rgb or rca cables.. however u dont need monster cables or any top brand.. the ones on ebay will do.
I dont know what theyre up to now 1.4, 1.5 or 1.6? last i checked it was v1.3