You should check to see if your laptop can even output component video before you spend any money.
The main factors to consider are the age of the computer and the type of graphics adapter it has.
Anything fairly recent should be able to output component video.
Here are the dongles you will need depending on the type of graphics adapter you have.
Nvidia:
http://www.google.com/products/catalog?q=nvidia+component+dongle&client=opera-portal&channel=portal&um=1&ie=UTF-8&cid=1024387280143303825&sa=X&ei=F3uPTYbiDMaw0QHzg7C8Cw&ved=0CGIQ8wIwCg#ATI:
http://www.kpsurplus.com/abit-component-output-video-cable-dongle-amd-ati-cards.htmlHowever, You can improve the viewabillity of s-video by going into display properties, selecting your graphics adapter,
and adjusting your sharpness and contrast settings.
Though you will see an improvement from s-video to component video, you still may not get the games to look exactly how
they are displayed on an actual arcade monitor.
Graphics card manufactures generally don't try too hard to allow you to connect your standard definition television through component video.
The capability is there, but it's a pain in the ass to get working. In short: component to HDTV = easy, component to SDTV = difficult.
It's not that they don't want you to connect your graphics card to your SDTV through component video, it's just that they don't think that
enough people try it to make it worth their time to make it easier.
Another thing is that if you do get your pc connected to your t.v. through component video, your graphics card is going to scale everything
to around 480i, so the games still wont look exactly how they would on an arcade monitor.
If you can get your graphics card to output 240p through component video, you can get most classic games to look very close to, if not
exactly how they would look on an arcade monitor, but those resolutions are more than likely not supported by your graphics adapters software.
From there, you can check to see if a program like soft 15khz will force your graphics adapter to output at those lower resolutions through
component video, but it's a crap shoot.