guys just running xboxhdm on a pi is actually possible. i did this already using qemu and x86 binaries. performance is actually good on the rpi3 and probably even better on the new one since it has usb 3, not sure if you could overcome the bottleneck with IDE drives tough. as long as your converter works under linux it should work.
I only can say this is definetly worth it. The image is pixel sharp. Unfortunately this will only work for TV's or Monitors that support XBOX resolutions, not all HDMI Monitors work.