TV Tuner Quality Vs. Direct Input to monitor?

[Coldkilla]

Goal: Play Xbox360 on my PC monitor in full quality with no latency.
Graphics Card: 8800GTX
Monitor: 24'' ViewSonic. (No graphic inputs)
Xbox360: Has the Red/Yellow/White cables (RCA).

Do I need a TV tuner?
Do I run with S-Video?
Do I buy some other form of hardware?
Is this even possible?

My buddy has an expensive 1080p monitor with all of the ports on his physical monitor and just bypasses the computer entirely... but (it seems to me), that if I just want to play Xbox360, I'll have to have my PC on as well..?

I don't know much about how I can get started on this process.... I appreciate any assistance.

 

[0roo0roo]

depends on the components. no generalization possible.

 

[mpilchfamily]

Dirrect input will be better since the capture card will have some lag to it. Not good for console gaming.

 

[Coldkilla]

Maybe like a RCA to VGA? Or some type of cord that would allow me to plug directly into the monitor so the latency could be avoided? I don't mind unplugging the monitor if I want to switch tasks.... I just really would like to get to playing as soon as possible.

 

[Coldkilla]

So are converters like this feasible/recommended?