S-Video, aka Y/C, allows for your video signal to be carried as sperate Luminenece(brightness) and Chrominance (color)information which makes for a better picture. RCA cables mix those two together, hence it is a composite of that signal information.
SVHS is a higher resolution varient of VHS. VHS is about 240 lines of Horizontal resoultion, SVHS is 400 (DV is 500). It is recorded at the same speed as VHS.
SVHS decks can record and play back regular VHS tapes, but not the other way around (there are some quasi-exceptions).
If you have a device that has S-VIDEO out and a monitor with S-VIDEO in, then you should choose that over composite, or co-axial inputs.