Monitor vs TV for gaming

[u4ic_fln]

I built my computer about 18 months ago designed for gaming. I am using a SAPPHIRE TOXIC HD5850 for my video card which has 2xDual-Link DVI, 1xHDMI, and 1xDisplay Port outputs. I have 2 monitors hooked up right now (via the 2xDual-Link DVIs) and the time has come to upgrade one of my monitors. The plan is to get a new #1 monitor, start using my current #1 Monitor as my #2 Monitor and get rid of my current #2 Monitor.

My question is, with a $500 budget, is it reasonable to consider buying a TV (such as this one) with HDMI and/or Display port to use as my monitor 1? Or should I just stick with a computer monitor?

Thanks in advance for any help. =)

extra info: This is more of a generic question than a specific choice between the two options linked above. They are just examples for what is available within my price range.

 

[Sheepykins]

You'll find that alot of cheap monitors out there match TV spec nowadays, with HDMI and full HD res.

But thats good and bad you'll find most tvs are between 5-8ms in terms of speed with monitors for gaming about 2, not too noticeable.

A higher resolution seems great but it can push the GPU further and cause lag compared to say a 1600x whatever monitor.

Personally you can get the best of both worlds with say, a 24" HD monitor

 

[MindoverMaster]

Get an X-Box.

But, yeah, you won't gain that much at all with a TV. Unless you just want to play it in the TV room, go for the TV.

 

[Fat.Clown]

if you got the room and money, go for the TV.