HD-PVR: Component To HDMI/VGA

i use this box to record my xbox 360 and playstation 3 with component cables
but im looking to buy this 22" monitor which has [SIZE=2]only VGA (D-Sub) [/SIZE][SIZE=2]DVI-D[/SIZE][SIZE=2] HDMI ports [/SIZE]

W2261V LGW2261V - 22" LCD / TFT Monitor (1920 x 1080 ) 1000:1 300cd/m2 - Black Glossy Bezel - No Speakers

the monitor has hdcp

is there some type of product this will let me play on a monitor with no lagg/picture quality loss

Transcoder HD Box 1080P/HDTV Component to VGA Converter on eBay (end time 18-Sep-09 07:20:37 BST)

http://www.play-asia.com/paOS-13-7 [...] -2tw6.html

http://www.hdcable.co.uk/component-hdmi-converter.html

Whats a good device so i can get a amazing picture on the monitor when converted.

im not sure if it will work because of the HDCP handshake. can someone help me please thanks, hitman