Oooh, I'm having fun with this.
There are vga to component video convertors (such as
http://www.digitalconnection.com/pro...eo/kdvtca2.asp), but I've never used one. Alternatively, depending on your display device, you might be able to directly connect the vga output to the display. Make sure the resolution output on the external VGA connector matches your needs, though (it's not necessarily the same as the built-in LCD).
Is there a reason why you're going with a laptop, though? If it's just going to sit there attached to your setup, you might as well go with a desktop. A lot cheaper, more expandable, and if you go with the right drive/fans it can be very quiet. Then you can add a cheap HDTV tuner on a card and drop it in the PC.