Same here except I'm using HDMI. I'm driving it with a MyHD card and the DVI daughter card. When the MyHD isn't up the regular PC signal passes through just fine, so I think a software player like VLC would work too.
DVI (or HDMI...bascially the same thing for this purpose just a different connection...if your TV has HDMI cables can be purchased from your local electronics store to do DVI to HDMI) is the best way to go. Some video cards, like my nVidia 6600GT has composite out as well, but I use DVI to HDMI. If you don't have DVI, your best bet is to get a video card that does. nVidia cards work great, but ATIs are good too. It's not really hard to do. To be honest, my frames to skip with signals with a high Mbps, and I've heard that this can have a lot to do with the video card...if I were you I'd probably get faster card than the 6600GT. A GeForce 7 series card would probably do better. I know my lower CPU clock speed has a good bit to do with it too though.