If you have the DVI daughtercard that works with the MDP-120, and a DVI video card, you could do DVI from video card to daughter card, and daughtercard to display.
As far as component only, with video card passthrough, you would need a video card that can output component video. Many ATI Radeon cards will do this with the HDTV component dongle. In addition to the VGA Breakout cable that Jim mentions, as well as setting the output in MyHD to be YPbPr, you'd need a second breakout cable to take the 3 rca style connectors from the dongle back to a 15-pin connector and then a female-female mini gender changer to connect to the MyHD passthrough connector.
you can passthrough VGA just like the Hipix. You can hook up your radeon via vga into the MyHD 120 and then toggle the output (desktop/HDTV) via a single VGA cable to your HDTV. The MyHD can also do DVI passthough and DVI HDTV, which the Hipix cannot.
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