I have used HDTV's for multiple years now, with great pleasure. I am currently using a 32" and a 40", and would not even think about going back to regular computer-purposed monitors.
Brand new 32" HDTV's can be had these days for $199 or less, for pretty good ones, and the 40" one I am using cost me only $219.
It is true that the old-school computer-purposed displays have a bit finer display, but I don't find any readability issues at all when running my computer through an HDTV. I happen to use the 32" HDTV as my primary computer display, and the other one is usually used as 2nd one when running Sonar, but otherwise is used as an HDTV.
An added bonus is that if you run an HDTV as your primary computer display, you can also route your Windows Default Audio Device to be that HDTV, since it has its own speakers and the audio is sent through the HDMI cables along with video. That makes it easy to hear YouTube videos or whatever through the HDTV, while my audio interface is reserved for Sonar (or other stand-alone synths and such)
Bob Bone