LCD resolution for composite video

I am replacing our 20" CRT monitors with LCD monitors on our information display system. Currently, the video distribution to these monitors is composite video display, primarily text. I don't anticipate upgrading the distibution signal at this time.

What is the best resolution of LCD screen for display of composite video? What would be a good choice of LCD monitor which will handle future upgrades? When I upgrade the display input, what display format would be advisable?

Are widescreen LCDs a good choice to display 4:3 video? Would stretching the image to fit widescreen degrade the sharpness of text?