Hey folks,
Ok, so it's been a long while since I dealt with analog
anything, but I couldn't let this slip by!

A guy in my neighborhood gave away this 32" Sony Trinitron XBR (Model:KV32XBR200) for free because he was moving and didn't want to deal with it. Can't say I blame him, damn thing weighs 175 lbs. As y'all know, I don't have a lot of space myself, but the gf and I are also thinking of moving to a bigger space in spring/summer - so I'm getting ahead of the game, so to speak!
Here's the facts:
TV has composite, S-Video, and Component (YPbPr) inputs, and according to
this Wikipedia article, is up to 480i compatible. (I assume that's over the component inputs.)
PC has VGA, DVI and HDMI output options (from Intel HD3000 built-in graphics on the i5-2500K CPU I have). No room for discreet GPU.
What's the best (and cheapest, if possible) way of getting PC display on this TV
if I want to use the component inputs?
I'm guessing a transcoder of some kind is in order, but I've never dealt with those. Found this HDMI-to-component one:
http://www.bhphotovideo.com/c/product/770115-REG/KanexPro_HDRGBRL_HDMI_to_Component_Converter.html -- which I could go buy tomorrow at the actual store. Seems overpriced, but hey if I can get it tomorrow...
Also, let's say I do buy that converter above: does that mean that I would somehow need to set my HDMI output on the PC to 640x480 for it to display properly on the TV? Am I understanding that correctly? (... because ... that's gonna be a problem in Win7, isn't it?)
I may just buy an easy/cheap VGA-to-Svideo adapter off Monoprice and call it good. It's only going to be used for MAME and console emulators, so I don't really need the top end of this TV's resolution - but I want it if I can get it, and spend less than $100 to do so.
EDIT: If you can't see it, picture is a PS2 hooked up via component.