Is it actually possible to do this? I would think it would be quite easy as i see all these crazy mods being made, so you would think this is something very simple, but i have never seen anyone actually do it.

You thought wrong.

Alright. Thanks for the dramatic movie like "You thought wrong" scene in my head. Haha.

Lol Thanks.
Seriously though, that's more of a software thing. Most of these guys are into making older systems better hardware-wise.

You actually can. It's a pain in the ass but hooking up a capture card from your xbox to your laptop will provide you with the video and sound through your screen. It may be a bit laggy, but I got it to be about the same as if I was playing on an HDTV.