I'm not sure if you still need this info, since the post was several weeks ago, but I haven't checked this forum in a while.
The X'Eye does output RGB through the regular 9 pin connector, the plug and pinout is exactly the same as the model 2 Genesis. The RGB is better than S-video, and doesn't require modifications to most systems, that's why I do the external transcoder for everything, it saves a lot of time and money from having to s video mod a million consoles.
I'm not using an LCD tv, I'm actually using a 27" Samsung CRT SDTV with component video. WIth component video, it looks like a really great arcade monitor. I'm a pretty cheap bastard, and the fact is I'd have to spend $1000+ to get a HDTV that (to me) looks as good as the TV I have now.
I noticed that you posted in a thread about the Scart to component transcoder..And you mentioned the X'Eye. Does the X'Eye do RGB via its 9 pin din connector without any modification?
I know it wont output s-video unless you mod it into the system, but RGB is better and it will do it natively as long as you have a Genesis II Scart cable?