Hey, I got a JVC AV-27530 brand new for $190 at hhgregg that has component inputs. I am very happy with this setup.
I was not really pleased with the S-Video that I was running on my Sharp TV,

...especially for the older games...but I was willing to settle.
Anyway, I needed to get a new TV for my cabinet project and I said to my self "Go ahead and get the one with component video inputs, just to try them out. If I can't get them to work, then at least I still got S-Video." It was only $30 more than the non-component video TV.
Let me tell you...That made all the difference, at least for me...

.
The older games look awesome!!!
The only thing is that Asteroids, and Asteroids Deluxe do not look good at all on the TV.
I did not have an unlimited budget either so I did not want to spend $700 on a large multisync arcade monitor. Yeah, I hear some people say don't skimp on parts for your cab...

, but if you are married, have kids, or have lots of bills, then you have to draw the line somewhere.
Don't get me wrong, I would love to spend $$$ on the best components money can buy...
but that is sometimes just not possible with out consequences...

If I spent $700 on a monitor, do you know what my wife would do? I will tell you, she would cut off my...

...joystick!!!... ...did I mention that her name is Lorena???
Plus, I already have a 25" arcade monitor that needs repair. I may get that fixed some day.
I don't have any consoles, but I would imagine that using a TV would be the most hassle-free way to plug in your ps2 and future consoles. I don't know how you would plug a console to an arcade monitor.
I have posted other threads about my setup:
http://forum.arcadecontrols.com/index.php?topic=51393.0http://forum.arcadecontrols.com/index.php?topic=51752.0Good luck on your cab...