I've replied to similar questions in the past, but there are other ways... you just need to think a little outside of the box, and decide how large of a solution you're willing to settle for.
A bit more specifically, there are some satellite receivers out there, made by samsung, that have component and composite inputs, and dual outputs (component / composite). Additionally, it has a built in hd tuner (bonus). So you can throw any component signal in, and have it go to your 480i tv in style
Last time I checked, about 4-5 months ago, they cost somewhere around 40 bucks on ebay.