Choice of Monitor Speakers

For that setup you would need something like this …

http://www.sweetwater.com/store/detail/CPR201/

If you could somehow manage to spend another $50, the next step up M-Audio AV 40 has balanced 1/4" TRS inputs (as well as RCA). A 1" bigger woofer, too …

http://www.sweetwater.com/store/detail/AV40/

In which case you would need something like this …

http://www.sweetwater.com/store/detail/CSS202/

If you run unbalanced lines try to keep the length as short as you can get away with.

Either way, I don’t see why you would have any problems running things the way you describe.