would this combination work

I highly doubt that would work. I do believe that converter looks for a specific output to work (IE only with specific video cards) Also, that is an analog output, which HDMI is only digital.

There's really no straight forward conversion for you. The only thing I know of are these VGA to RCA/Component active converters. They run around $40-100 depending on brand and specs. However, you will loose a tremendous amount of quality in the conversion.
 
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