Conversion from HDMI to S-Video - quality drop off?

We want to buy a Boxee Box which has HDMI out. However, our set up only has S-Video input. We have seen HDMI-S-Video converters at various prices. The question is: will there be a significant drop off in video quality? We know we should have an HDMI input, but our TV doesn't have an HD card.
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  1. Well, the obvious is that S-video supports a maximum input of 480i (Standard Definition), so thats the first thing you need to take a look at. This could cause SIGNIFICANT problems with, say, content that does not output at that resolution (I'm not sure if the converter handles the downmixing or not)

    Secondly, you have a conversion from digital back to analog. This may cause some latency, and the signal may not be terribly clear depending on how the conversion is carried out.
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