Over the weekend I decided to change the TV in my cabinet. Previously I was using a 27" Mitsubishi CS27MX1 TV. The sharpness of the picture was great, but it suffered from what appeared to be "doming". Basically I would get purple blotches on bright sections of the screen. This would happen in games as well as on white screens (like in notepad).
The new TV is an ILO DTV2794 27" TV. I got it for $189 from Walmart. I think it's actually the same as the Orion TVD2710. It has S-Video as well as Component Video in and powers on automatically after power loss. I notice that the picture is not nearly as "sharp" as the Mitsubishi. Text is now much more blurry. Note that I am using S-Video and not component because I have the Act Labs TV Light Guns and they only support S-Video.
The good news is that my "purple" color problem is gone.