I have that Monster cable (it was a gift -it's actually coming apart at one of the RCA ends)...I'm sure it works 99% the same as the competition. The method of connection (headphone jack), as others have mentioned, is not very good in my opinion. You basically have to decide on whether or not you want to use the headphone out or the line out.
Like others have mentioned, you really only have 2 choices:
1) Monster like Y cable mentioned above
2) iPod Dock mentioned above (though there are plenty of reports of the line out audio quality not being good on some of these docks so be sure to do your homework)
I would definitely pick a good dock with true line out audio.
I stream music from my laptop using an Airport Express :
http://store.apple.com/1-800-MY-APPLE/We...&nplm=M9470LL/A Cheers.