Is there such a thing as...

Technically, these things are called transcoders, I think, not adapters because of what Kjweisner said. Run a search on HDMI-component transcoder. There are some available on ebay
but remember, since its an active device, you will need to get one w the proper input and output. Most of these are not 2 way devices. Key digital is a good manufacturer.

Go to HDfury.com

I have not tried thi but there are some that think it is great as it will...get past...the handshake issues.

The HDfury2 looks interesting. I wonder if it will decode HBO encryption?

It is my understanding that HDFury is a way to get an RGB Device to play DVDs, etc. that are handshake dependent. They have a FAC page. Try asking there...