Basic composite video input box?

Hello, I'm a new mac owner and am already floored at how much better it is compared to the old Microstuff OS's. Anyway I was looking for a way to get an external device with composite video inputs without the DVR capabilities. I'm only looking to hook up my PS2. I've searched the forums quickly to find products from several companies which I could use for this purpose but they are complete overkill and I feel I'd be spending more money than it's worth. I already have an old VGA box and CRT monitor but I'm going to school quite far away soon and I can't bring things like a monitor with the VGA box. Does anyone know of a cheaper solution? By the way this will be used strictly in real time and I have no need to do anything but watch the signal as it comes in.

I am pretty sure no matter which device you buy for image capture will be slightly delayed...

ouch...I'd really like to be able to get something going with no delay which I thought would be doable since I wouldn't be recording any of it.

http://www.elgato.com/index.php?file=products_eyetvhybrid&PHPSESSID=f3f114598d44cdc2f46328baaefa66b8

That is really the closest you will be able to get that has a lag free mode.