Not exactly, Greenious.
PIN 2 is not a real composit output. It is only horizontal sync + vertical sync together. You need to add luminance and chrominance. Fact is that it is easy to get black and white output with the 13 pins connector using either pin 2 + pin 11 (monochrome) while in monochrome resolution or pin 2 + pin 6 + pin 7 + pin 10 with some resistors while in color resolutions. But to get color output you need another componant.
Badfully the RF signal is set by a componant that deal directly with RGB and sync inputs. So no way to catch composit signal from one of its pins. The whole convertion is internal. So it leaves you the choice to design a RF demodulator to get back to the composit signal but I think it is as expensive as building an RGB to composit converter and will have a quite awfull result. Anyway I have a french model of ST (an a MegaSTE one) that were sold without RF plug and without RF componants because scart plug was available on french TV models. I suppose ATARI was saving some money by removing (not providing in fact) that hardware part on french models...
So 53 Euros + price of others componants is still the best price I found and is too much expansive for me to test with no waranty of result.