Cheapest way to play consoles on PC monitor

http://www.computercasesandcables.com/ccc/CV-25120

Would that be it?

Sure, the description says that it's for PC-to-TV (VGA output on video card to RCA or S-Video input on TV), but couldn't it be theoretically used in an opposite manner? I have this really spiffy new LCD monitor, and I'm only using the DVI port on it. I'll be going to college soon, and if I could use my monitor as a TV for my consoles, it would save me from buying a TV for the purpose.

The keyword is *save* here, as I clearly don't have enough money to buy a VGA box, which would be the optimal solution. And don't worry about audio, I can cover that.

>>1
No. A cable like this isn't a two-way street. It can only be used to display a VGA signal on a TV (although many modern video cards already come with an S-video output anyway, so this would be unnecessary). To do it the other way around, you either need a monitor that can accept S-video, component or composite (eww) inputs, or a VGA converter box (expensive). However, some consoles can connect to VGA outputs without the need for a converter - the Dreamcast supported this right out of the box (with the right cable), and a lead for the Gamecube can be purchased for around $45. I believe the XBox and PS2 require that expensive converter box though.