HDMI question

Hey, I was recently shopping around for HDMI to VGA convertors, and I found a few. I found one on Amazon for 32$, and I am considering purchasing it.
I plan on inputting my Xbox360 HDMI and having VGA output, so I can hook it up with my LCD display. Now, I currently hook up Component video (Red, white, yellow) to my TV, and the quality sucks. If I were to convert HDMI to VGA, and display it onto my 1080p LCD display, what would the quality be like? Would it be better or the same?

Thanks :)
HDMI question

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