as you can see from the comparison even with Svideo a TV still looks crappy compared to a PC monitor and of course a true arcade monitor cant be beat.
I disagree with most everything Sephroth said, but this, in particular struck me as odd. To say that a TV looks crappy compared to a PC monitor in one breath and then to say that an arcade monitor looks better than a PC monitor in the next makes no sense. The images produced by a TV are much closer to those of an arcade monitor than images produced on a PC monitor (because of a PC monitors super high resolution and little dot pitch).
Also there are many advantages to going the TV route over the others. First, and probably foremost is price. You can pick up a decent 27" TV with S-video for just a couple hundred bucks. See what that kind of money will get you in the PC or arcade monitor marketplace...
In addition, with TV's you have the option of using dual guns with ACT-labs TV-out lightguns (their PC version only supports a single gun -- no two player).
TV's can double as, well, a TV if you have any interest in watching TV on your cab. This is possible with a PC, of course, but you need an additional TV tuner card.
TV's can be interfaced, with no extra hardware required, with Gamecubes, PS2s, Xboxes, Dreamcasts, etc.
Certainly they have their downsides.
Their cases (particularly ones with speakers built into the sides) make them difficult to fit into cabs. It can be very dangerous to take a television out of it's case.
Many TV's will not "remember" what input was being used last after they are unplugged, so it might turn on to channel 2 rather than S-video, or worse do an automatic scan of the dial to try to detect your station every time you shut off your cab and turn it back on.
Many TV's will not automatically come back on after they lose power which is all but necessary if you want to have a single button or switch that turns on and off everything in your cab. You will likely have to keep a remote handy, since the TV presumably will be covered up by a besel of some kind and likely glass as well. It doesn't feel very authentic to turn on your arcade cabinet's screen with a TV remote.
My particular TV has the smallest dimensions of any 27" (CRT) TV I have ever seen or heard of (and I did A LOT of searching). The speakers are mounted on the bottom, and there is only about an inch of case on either side of the screen. It also turns on automatically after power loss and remembers the last state (TV tuner, composite input, S-video input, or Compenent input). Yes, that's right, it even has RGB component video inputs which will get you VERY close to arcade monitor territory in terms of your picture quality. All this, brand new from Sears about ten months ago for $225, regular price. It's a Toshiba 27A33 for anyone who's interested. At just over $200 and with a slew of extra features I think this display gives even the coveted WG 9200 some decent competition.