You can run everything through the tink but its kind of pointless IMO, since you're converting from analog to digital back to analog again. I would just stick to the consoles where you need something like it: SNES, PS2, maybe gamecube, connect it via hdmi->vga adapter. Get a passive VGA switch instead and you can switch between multiple devices. Dreamcast has many VGA cables and you can use any gamecube->hdmi device and then a cheap hdmi->VGA.
The mister can go hdmi->vga adapter right into the monitor. Try these settings for 480p:
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direct_video=1
forced_scandoubler=2
hdmi_limited=2
If you want to use higher resolutions and filters (isn't that the point of the 5x tink?) you can also get the Mister to do that work directly by itself:
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video_mode= 960,720,60,cvt
hdmi_limited=2
You can change the video_mode values to try different resolutions, I would just stick with something in 4:3 ratio.