Too many devices and too little ports

[ambiance]

Currently I have my STB, PS3 and PC using up all 3 HDMI ports on my TV and use a switch to connect Toslink cables from each device. I just bought a 360 and unhooked my PS3 for the time being, but that will become tiresome. I thought I could just buy a Toslink splitter for the switch and an HDMI splitter for the back of my TV and share between my PS3/360. Turns out I can't and it could damage my equipment (Thanks, Monoprice). What are my options here? I can't use the Toslink port on my TV because it's been problematic and my receiver only has one Toslink port (Hence the switch). I've looked at HDMI splitters and they either have one Toslink port or none at all and they cost way too much. The worst case scenario I can see is moving the PC from Toslink to RCA and HDMI to Component. I'll miss the audio/video quality, but it will save me some cash. Will I run into any problems with HDCP outputting through Component?

Edit: I don't think I can even use a Component dongle on my GTX 570. Can VGA output to 1080P from my PC to LCD?

Edit: 1080P? Check. Analog? Check. Answering your own question? Derp.

Setup:

Samsung LN-T4061

Samsung HT-TX52T (It was free! Don't judge me!) :p

3 Port A/V Switch