Well, a standard TV and an arcade (15kHz) monitor is basically the same.
The big difference is the electronics (chassis board). The arcade chassis obviously is lacking a tuner and audio options etc. and a lot of other different connectors and so on and you must feed it with a specific signal (RGB+sync). Yes, I know that there can be some difference in quality in the tubes, but there are TV tubes that are as good as the arcade models.
I’m still talking about 15kHz tubes/chassis. Going up is another story, and will not be in my scoop here.
The arcade chassis usually also has a lot more possibilities to conveniently alter the picture geometry with potentiometers for almost anything. That is almost a must, since arcade games has so many different resolutions and frequencies. Changing game will put you in a situation were you need to alter these settings, assuming you want the picture to be fully visible or cover the whole screen.
On a standard TV chassis you are limited and might end up in a situation were your picture is off screen in some parts.
If you are lucky, you might find the way to access the service mode, and these settings can be set in the menus.
I have successfully replaced some arcade monitors in my games with standard TV’s. If you got the right model and to it right nobody would tell the difference.
Having access to the service menus gives me the opportunity to tweak as I want, and I only choose models with RGB SCART connectors. Then the signal can be used unconverted as is (except for lowering the voltages with some resistors). I also put power to one of the SCART pins, that makes the TV start automatically in A/V mode so I don’t have to do anything manually. Just power on and there is picture.
And maybe the biggest advantage of all – the colors will be perfectly tuned from start. Trying to set the RGB signals individually for a perfect match on an arcade chassis board can be a real PITA. Some models are really good, but most sucks IMHO.
So, try to find a SCART TV and just drive it with the VGA (RGB) signal to get a perfect picture. There are, as said before, many examples of people having a good picture with component and S-VHS signals as well. But then it really depends on the quality of hardware involved.
But hey, I’m nearly 40 and would probably not see the difference in that many cases…