I suggest finding out the best input your monitor supports (DVI?, VGA?), then searching Amazon.com for "component video to DVI adapter" or "component video to VGA adapter". You will probably see that XCM box, lol.
I have another suggestion. If you could scrape up $200.00 or so, you could buy a 23" HDTV which would support VGA and component video out of the box.
you need very specific hardware. the monitor has to accept component y sync/rgb input via the ps2s standard 3 plug lead. the monitor must also be able to handle 640/480 rez and 30mhz input... most of todays hd lcd/led monitors wont work as they are often only 59hz-60mhz which is out of range for the ps2.
older crt monitors are more likely to accept the input than newer 1s...