360 HDMI + Component Audio

I just went out and bought a 250gb 360 and a new screen, but I've encountered a problem. The screen has an HDMI and a DVI input, but no speakers on it. I worked around this on my PS3 because it allows you to use HDMI for video and component for audio, which I run to some external speakers. Something I noticed while hooking up the new 250gb is that it has a plastic piece covering the HDMI port when the component cable is connected. Does this mean that I'm going to have to play audio-less on my new screen?

You can crack the plastic casing off the component cable. I'm doing the same thing right now, 360 through HDMI and sound through A/V cable.