I had a setup similar, had a tv tuner with my dualies, I then put the tv on the second monitor while I did what ever on the first monitor. I stopped doing that because of the rat's nest behind my desk+ the fact I needed to run a coax cable+all my sound system connections to the computer, just became too big of a hassel.
I'm currently in the middle of saving for a 37" plasma screen tv (started off with like $100 and I currently have about $1300!) the TV is about $2K (Benq?) It should go nicely with my soundsystem, "PVR (AIW PVR) and couch I currently have

To watch TV, I currently watch a 10" tv from about 15' away which for some reason doesn't bother me too bad.