VGA output from a Blu-Ray player?

 I'm interested in Blu Ray.  Unfortunately, the only video projector that I have has only composite, S-Video, and VGA inputs.  So my question is...
 
Does anyone make a Blu-Ray player that will utilize the maximum 1024x786 res of my projector via the VGA input?  If nobody makes a native VGA output, does anyone make a HDMI-to-VGA converter that would do the same thing?  Finally, if none of the previous options are a starter, does anyone make an inexpensive video processor that will down-res a signal for my projector?
 
I know this isn't a great set of goals, but I'm stuck with the existing projector till it dies, and want to get the most from it that I can.
 
Thanks - Boomzilla