I'm planning on getting a 22" widescreen LCD, so I'll need a component cable to hook it up to the PS3. What's the cheapest cable out there for this? I've seen $2 HDMI and audio optical cables, so hopefully it'll be in that price range as well.

That's a pretty tiny screen. Anything above 720p would be kind of wasted (if it's a TV). Just get a super-cheap component cable.

How is 22" tiny? It's a computer monitor LCD, not a TV.

HDMI is the best choice $10 on monoprice.  $20 for sony brand components...

"How is 22" tiny? It's a computer monitor LCD, not a TV."

Are monitors even capable of HDMI? I was just looking for something comparable to the Xbox 360 VGA HD AV cable.

"Are monitors even capable of HDMI? I was just looking for something comparable to the Xbox 360 VGA HD AV cable."

Is this the correct 3.5mm RCA mini-jack adapter? http://www.amazon.com/Cables-Go-Stereo-Female-Y-Cable/dp/B0002GUBIS/ref=pd_cp_e_3_img

Also, I noticed he said, "The only way your going to be getting full surround sound is via optical or HDMI," which kinda confused me. Is there something else I need to do than from his directions? I have 5.1 lower-tier speakers from Logitech (like the $50 ones). 

You can find cheap cables virtually anywhere.