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[brianbek]

I was wondering if anyone knows if there is any software out there that would allow you to emulate 800 x 600 resolution on an older 640 x 480 monitor, even if there is loss of image quality

[gangsta]

there are some adapters (TV OUT cards /or box /or USB Video cable) that would convert it to an analog TV picture (S-Video or RGB at best). Obviously these are not as good as a 640 lines monitor.
Then you can convert that monitor to a TV tuner, to get the best of both worlds (Tuner box), this will have some video input to which you can send the TV Video signal coming out from the 800 lines PC via the TV OUT converter. The 640 lines TV Tuner should also have a normal VGA input to be used as a standard 640 mode monitor like before.

But instead of buying 2 converters to do this job on an old monitor; better ditch it and get a new one for a cheaper price unless you like this old one or would like to use it as a TV.