I want to hookup my xbox 360 with the vga cable since it allows for upconversion of dvds. Only problem is i do not have a vga input on my hdtv. I heard the component cable for the xbox 360 does not allow upconversion. If i went from the xbox 360 vga cable to a gender changer to the vga to component cable, will i still get my upconversion? Is there any risks involved with this setup? I heard you may wreck your hdtv if use a bad res. setting.

I want to hookup my xbox 360 with the vga cable since it allows for upconversion of dvds. Only problem is i do not have a vga input on my hdtv. I heard the component cable for the xbox 360 does not allow upconversion. If i went from the xbox 360 vga cable to a gender changer to the vga to component cable, will i still get my upconversion? Is there any risks involved with this setup? I heard you may wreck your hdtv if use a bad res. setting.

Not really worth the trouble IMO. Just hook it up through component - it will look great.

Most likely not.
Even if you got an image it would not look all that good.
VGA color mapping is different from component color mapping.
You would need a special converter box (TVAuthority sells one, I think--look for a thread in this forum) that likely will cost about as much as a good upconverting DVD player.
If component is what you have to work with stick with component.