Just make sure you don't buy generic Xbox cables that are sometimes seen on Ebay. Get the new version of the MSFT component cables (a 1 piece unit, no breakout box - you'd have a lot of problems finding the older unit). It is every bit as good as the Monster offering and quite a bit cheaper (note that the old version was cheaper but noticably not as good as the Monster offering - at least to a decent percentage of people).
Also, the Xbox DVD player sucks - as someone already aluded to. It is watchable but you wind up with odd color issues (macro), a set limit of 7 IRE, and no 480p output unless you mod and hex edit - and still at 480p the other issues make it suck. The majority of $100 range players will significantly outperform it and you get a lot more control also.
Panasonic 65" VT60 (calibrated by Jeff Meier), Marantz 6005, Kef Q towers/rears Kef Reference center, Win 7 Pro with XBMC, Harmony Ultimate One
Xbox Live: Arbitrage XXL