Ok, now I understand your problem: every single resolution your TV is accepting on VGA is 4:3 ratio, your TV has 16:9 screen, at best you'll get similar picture size as SD programming with bars on sides, could be less. I have to say the options your TV has on VGA input are very, very limited and totally make no sense (only 4:3 ratios on 16:9 TV, who comes up with this nonsense?) and laptop doesn't have HDMI to take advantage of proper resolutions.
1. See if you can update TV firmware, maybe Toshiba came to their senses after customer complains and provided some other resolutions in later updates.
2. update video drivers on your laptop, if it's Nvidia or ATI even embedded on motherboard, go directly to them, not Acer, just pick proper driver for your card, it should work.
Play with other resolutions, not listed in TV manual, there could be some updates since the manual was printed to what's supported, even if there are no updates since TV was new. As a matter of fact computer should not list any resolution that is not supported by TV, as long as LCD is deactivated, are you forcing unsupported resolutions?
Not sure how much streaming box costs, but I've seen laptops for much less than $400, with HDMI port and that's your salvation, VGA support on your Tv is abysmal.
I never used VGA to HDMI adapter, no idea how it works, but VGA is analog - HDMI digital : this could be rather involved conversion.
BTW, I have 5yr old Westinghouse, considered low end maker, VGA resolution listing is like half page long and it goes all the way to 1080p, it's why I'm surprised at your limited options.