Converter from 480p Component Video -> VGA 640x480? (1 Viewer)

[Ryan_J_C]

Does anyone know if there is something I can purchase relatively cheap that will convert a 480p component video connection to a standard VGA connection and convert the signal to 640x480 @ 60hz (if this is necessary, I'm not sure if it is). I'm looking to try to use a progressive scan signal on my VGA monitor. The signal wouldn't necessarily be from DVD though so just playing a DVD on my computer using software playback with 3:2 pulldown isn't a solution here for me.
I've seen something that might be able to do what I want, but it costs ~$150-170. I'm hoping to find something thats a bit cheaper, but if there isn't anything else then I guess I'm stuck buying that. (Does anyone know if this will work for me? : Link .. This has the right connectors, but it says it is for connecting to TVs that have a RGB signal not VGA monitors)
Thanks to anyone who can help me out here!

 

[TimG]

Yes it will work, and no, there really isn't any cheaper solution.

Tim