no vga > hdmi wouldnt work, hdmi is digital. vga is analogue only.
it wont matter anyway if you use anydvdHD. but without it your sftware player will refuse to play the film over dvi or hdmi because the monitor doesnt support HDCP over those connections.
VGA is a weird one. HDCP isnt required over VGA so it would play fine. but there is always the threat (and nothing more atm) that the restriction flags could be switched on causing the software player to downscale the video before its passed to the display.