Use your monitor to play X-Box?

I thought this was a pretty neat concept especially for people with limited space and/or budget, especially in dorms or studio apartments. It's a VGA converter to hook up your X-Box or Gamecube to your computer monitor instead of a TV. It retails for $49.99 from Merconnet.com which isn't bad since it's about half the cost of a cheap TV. Also, check out a review on Globetechnology.com they seem to think it works pretty well.