Those video in composite are quite the distance from the audio in. I guess it could reach but if the strain relief is too close, it might be problematic with some RCA connections.
With "not enough HDMI", a bonus might be that Xbox One has HDMI pass through (though people have complained that you actually have to have the Xbox One powered on to see TV passed through HDMI.)
My personal hangup would be the limited HDMI:
Cable, Roku, Blu-ray, Game1, Game2
I suppose I could swap connections for game systems.