I haven't followed your problem but yes, the Kenzei seem to be the thing. I've ordered a couple of 74LS86 so I can make a cable myself, as I can't justify spending $60 on this.
Simply XORing and inverting is what is needed in theory, assuming perfectly square signals and instant perfect XOR gates. I suppose in real life it's not that simple and there can be some complication with some displays. I'd trust them over me on this subject.
Have you tried the Kenzei thing?
The problem is that the JVC DT-V1710CG HD CRT monitor doesn't like RGBHV crudely "made" into RGBs with a T connector. I have tried two of this exact same monitor, a few different VGA-to-BNC and VGA-to-scart cables, two or three copies of the JVC RGB input card. Always same results. If I remember right, it looks a weird mess directly connecting my Mame PC to the input card. And through my Extron matrix switch it's improved but still has the distortion along the top... the switch maybe has some circuitry inside that helps but it's not enough(?).
My guess is that the JVC RGB input card doesn't have the "robust sync reconstruction circuitry" of a PVM/BVM... the PC's RGBHV with t-connector looks fine on Sony monitors. For that reason I'm not risking dropping $60 on the Kenzei on the possibility that it may very well not fix the problem.
Instead I just picked up a Extron 202 Rxi for $24 on ebay. I think that device makes a true csync signal. The manual states it can take RGBHV, RGBS, RGsB or RsGsBs signal and output it as RGBHV, RGBS or RGsB... on the surface it looks to be doing something more advanced than the Kenzei.
Turns out one machine is a 204MU and the other a 20L5. Both are stock models with no, apparent additional boards plugged in. I've got the space for both so I'll be holding onto them for the moment but which of the two is the greater model? Only fair it goes to my buddy when the time comes.
Figured the 20L5 would be better due to it having so much praise online but I'm still pretty new to the particulars of all this so I figured I should ask those more in the know about this sort of thing.
20M4U probably has a manufacture date on the back of 1998~, 20L5 should be 2003~. Tube picture quality should be very siminlar although the L5 should look sharper due to less age unless it's got a ton of wear on it (no way to check hours on either, eyeball it). The biggest difference is that the L5 handles HD resolutions (480p, 1080i, 720p). Keep that one. Your friend should be grateful to get the 20M4U, it's an excellent monitor for most 240p/480i gaming.