I know this question has been said many times before but I just want a bit of clarification.

The 27" iMac can receive a video signal, and the example used is a Blu-Ray player. And to do this requires an adapter that will be sold separately.

This says to me that logically a similar/identical adaptor could be released allowing the HDMI output of a 360 to be played on an iMac.

Am I right to assume that this is at least possible?

And am I right to assume that there is not other way to play 360 on a mac without that Eye program that apparently causes a bit of lag and image quality reduction.