I have a 40 inch 16:9 LCD TV in front of my pedestal. Not a fan of bezels most of the time and the black bars don't bother me. The black bars didn't bother me when I used to get letterboxed movies instead of pan and scan back in the late VHS early DVD years, either. I am bothered that some folks ignore aspect ratio altogether and just stretch everything to fill up all the screen. To me, that is distracting. I don't even notice black bars at the sides of the screen.
CRT's are fine, but no longer in production. And good quality 4:3 aspect ratio devices generally just aren't worth it for the expense of the sizes you would need to match similar dimensions in a widescreen format. People spend ridiculous amounts of money for 4:3 monitors so tiny that, even back in the heyday of CRT's, hardly anyone would have preferred over larger sets, no matter the sharpness of the picture. I will admit that deals can be found, but they come with a decent amount of hassle, maybe repair, not to mention figuring out how you're going to hook up modern tech to your outdated hardware.
I guess it all depends on what you want to spend (time and money) and the preferences of who will be playing.