Even with the lower cost of the MS HD pack, buying aftermarket cables to try to produce the same results as the monster HD pack will most likely cost more (minus the additional $30 for the monster iptical adapter/toslink)
Prices from gamestop:
Total complete Monster package with the optical toslink adaptor is $70.
MS HD pack $20, optical cable $15-20 on avg, aftermarket component cables $15 to $300...
I know the point that you are trying to make regarding normal cables. And I agree with you there 100%. But like I said, the xbox is a differnt beast. If the xbox came with direct component out video plugs in the back of it, I probably wouldn't be using monster for my setup either.