b3eatmania, looks like you're missing the point: the original poster just wants to convert VGA device -> Component display, i.e. a PC displaying on a TV. The purpose is to go one step in quality above S-Video, and still below RGB monitor costs.
On the other hand, the device you recommend is for Component device ->VGA/RGB display, i.e. a DVD displaying on a VGA monitor or RGB arcade mon. I see the value on this, but it is totally different than the application described above.
Finally the only situation I can thing of where you want to transcode 15khz -> Component is in a supergun type of application. Not what the original poster wants to do: he wants to connect a PC, not a gameboard to the component TV.
-- Android