First I hooked up S-Video, and checked out Aero Fighters, and Ultimate Mortal Kombat 3. I knew that Midway games tend to have issues with certain videomodes, so I figured that would be a good test.
S-Video performed flawlessly, with no special effort required in windows, short of dropping my desktop to 800x600.
Then I put on the DVI to Component adapter and rebooted. Ugh. The desktop was huge, but wouldn't scroll, so I could only see a portion of it. Also, the refresh was way off, so all the icons kept flickering.
I made sure that the dongle was set to support 480i, and then consulted Ati's documentation for configuring windows. I set the desktop to 640x480, but the only refresh rate that I could get working seemed to be 30 hertz interlaced.
At 32 bit color, MK3 would not display. After dropping down to 256, it did display, but certain screens looked AWFUL. Maybe high color would have worked, but I didn't try it.
Once I finally did get it working, the image was very small, only using about 2/3 of the screen. It did however look very nice, short of the color issues mentioned earlier. I suppose this is just because it was a smaller, tighter image than the full-screen S-Video.
I'm hoping with the appropriate tweaks I can get component video working properly, but so far, I wouldn't spend the $26 on it. I haven't looked around yet, but if you know any good references or threads for this type of configuration, please post them.
