"Low-end" setup for gaming on PC monitor

Hi, new member here, come to ask you experts for help

I am trying to figure out how to use the same display at my desk for my PC, and as a TV for DVDs, Netflix/Hulu, and video games. I don't watch "real" TV at all. What I'd like to connect:

--PC: has HDMI, DVI and VGA out
--Wii (component cable)
--Playstation 2: (component cable)
--Nintendo 64: I think composite is the best I can do
--Eventually I'll also get a PS3 and/or Xbox 360, and of course the new Nintendo console. (2-3 HDMI cables)
--Inexpensive 2.1 speakers. I'm not an audiophile, and the walls of my studio are incredibly thin so I'll be keeping the volume down anyways.

Question 1: How can I hook all these things up to a single display? Could I run everything through a series of switches and converters, or would the money be better spent on a less kludgey solution? Do I need an AV receiver, and do you have any recommendations for a model that will handle the above mix of analog and digital inputs but NOT have me paying for a bunch of featuers I don't need? What about a stand-alone video processor like DVDO Edge?

Question 2: What do you recommend I use for the display? I currently have an Asus VH236H 23" LCD monitor. I love it for my PC but it only has 1 HDMI, 1 DVI and 1 VGA input. It's also not wall mountable. I'd love to be able to make it work, but if necessary I'll consider something different, maybe a little bigger so as to make a better TV, but not too big since I need to be able to use it as a PC monitor, sitting just 2-3 feet away from it.

Thanks for your help!

You're very right about the need to re-evaluate the older consoles. I think I will soon replace the N64 with an Xbox 360, since most of the games I love on the 64 have since been ported to Xbox Live Arcade.

The receiver you linked to looked great, but I think it's just way more than what I need right now. I poked around some more on Yamaha's website, and I've decided to go with the NeoHD 700 for $180 from Newegg. I know it's pretty low-end, but it's also cheap and it does up-convert and have a few other nice features that I'm interested in, like the ability to control it from an iPod touch.

It's the YMC-700 NeoHD. It shows as full price on Newegg, but they're currently offering coupon code YAMAHA5X2 that makes it $180. They've done it several times over the past several months, since it's not a hot seller at its MSRP of $500. But for the cheaper price, I thought it might be worth it.

I haven't purchased yet, so let me know what you think of it...I will have my PC hooked up to the monitor as well, so I suppose maybe the internet radio and iPod control aren't all that big a deal for me. I could just do all that from my computer.

You recommended the Wii2HDMI, but I wanted to make sure I understood you correctly. That would only be for a setup without a receiver, right? In that case, would a component-to-VGA converter work as well? Then I could occasionally swap the Wii out for the PS2, and the HDMI would be freed up for my theoretical xbox 360 slim.

Finally, if I don't use a receiver, do you have any idea how I could deliver the audio from the above devices to my speakers?

Thanks for your help. I consider myself a high-tech gal, but home A/V is not my strong suit. I'm really conflicted between finding a cheap converter solution that will work for now, and spending more money on a long-term solution like a receiver or a new monitor/TV with lots of inputs.

Thanks, I went ahead and made the purchase! Now to find some inexpensive speakers...