I currently use the microsoft xbox vga cable to play on a computer monitor. My question is if i would be able to do this to use a hd pvr while still playing on the computer monitor.

xbox to hd pvr via hd av cable.
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from the hd pvr to this thing.
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and then from what ever you want to call that to my computer monitor via a vga cable.
Do you think that would work or would i get to much lag.