What i did was, i had a hdmi to dvi cable. Naturally , you can't connect the component cable with the hdmi cable at 1 go or otherwise as the size doesn't allow you to. What i did was , snap open the hdmi casing (you need a hammer and knock it gently) and fix it to the xbox360 and then my lcd monitor. Then the component video cable, you got to jam it in , it'll take some effort, and once done, you can connect the audio jacks to your subwoofer and play the game on your monitor.

It works great. But if you're not up to it, get a vga adapter for the 360.