TV vs Monitor
Ok, the graphics are "almost" as good. But when you compare 1080i at 42" vs. 1600x1200 at 19 or 20". Personally I think that double the size and wide screen format is worth the roughly 30% loss in resolution. I'm sure the ratings for resolution from TV to monitor differs, but it's close enough. I'm not a hard core gamer.
The whole point of the post was related to getting the biggest bang for your buck, weighed against getting the best of both worlds. In my case the TV, game system, and computer cost about 10-15% more than building a super gaming computer, but is more cost efficient in the long run, and I get a lot more use all of it.
To show you how much of a hard core gamer I'm not. I started playing computer games in '72, playing "Lunar Lander" on my high school's teletype hooked up to the local colleges main frame. Talk about bad graphics.