noob question, 22inch westinghouse

[uB3rn00b3r]

Hello I am thinking about picking up a Westinghouse 22 inch widescreen from best buy on black friday to use with an xbox 360. Will it support 720p or 1080i through the component input or will there be black bars on the screen? Also how would I go about hooking up sound to the 360. Sorry I feel really stupid but I have only ever hooked up consoles with composite on old TVs with speakers built in. Does the 360 have a headphone jack so i could use my icemat siberias?

Thanks
sorry