@Gorillanator: it's kinda pointless to use s-video on GameCube as you're still stuck at interlaced 480i, component cables allows you to output in 480p. I have both the official d-terminal cables (Japanese version of component, same thing) and monster s-video cables, def want the component cables. I managed to get mine from a 3AM eBay auction from a guy is Hawaii.
I installed the HDMI mod in my GameCube. He didn't clone the DAC chip, but he did figure out a way to convert the digital video signals to analog. I've done an HDMI mod to my gameboy advance which I've been enjoying. Hdmi mods are actually very easy to do, it's not like game companies like Nintendo use voodoo video signal standards.
IMO the component cable (can be found at $170) is a much better solution than the HDMI mod. The HDMI isn't cheap, the FPGA dev board (which is the DAC here) is about $80-$90 shipped to your door...then you have to install it yourself or find an installer to pay. If you install it yourself then I would highly recommend a desoldering tool, a good one will run you quite a bit. The guy's DAC code is great but the physical implementation is bad.
For what it's worth, I also found image quality slightly better using official component cables.
On topic. I like the wave bird (have several) but I would really recommend picking up a smash bros4 GC controller with the long cord. Wave bird is less responsive (only noticeable in melee I guess) and it lacks rumble. There's already enough latency in a modern LCD tv setup, no sense adding more into the chain when it can be avoided.
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