I only use this cable for connecting my Playstation 3 (fat) to my computer monitor and it works great. My monitor (Dell Ultrasharp U2312HM 23 inch IPS LED Monitor) has a VGA and DVI port and now my Playstation is hooked up to VGA and my PC to DVI so I can switch freely between them.
However, when using the line out cable and plugging it into my Logitech Z323 Speaker System
it produces some static. This was solved by simply using another cable.