I have one that I use for cable TV (with a ViewSonic VB50) and DVDs (Skyworth player w/VGA output). It's great as a poor-man's progressive scan DVD setup. Since it's a computer monitor, you can set the vertical height to do the anamorphic squeeze on DVDs. DVDs look fantastic.
I really enjoy this setup. Of course I'd love a larger display, but for the $300 or so, it's pretty tough to beat.
It's not quite as bright as a regular TV, but it's generally not a problem. The geometry on mine isn't perfect; the bottom third or so of the image bows upward just a bit. The built-in speakers are pretty poor as well.
I am curious to find out if this display supports 1080i HDTV. It can scan up to 800x600, (37kHz) which is higher than the rate required for 1080i, but I don't have any firsthand experience with this.