27" HDTV???

[JBCletti]

I recently began building a new computer and decided I wanted a rather large monitor. My question is: Would the display quality of a 27" inch HDTV (720p-1080i) compare to that of a 21" inch flat screen monitor. What would the actual resolution be on the HDTV compared to say a 1600x1200 res. on a monitor. Keeping in mind that im looking for something cost effective (a 15" lcd is to small, yet as expensive as a 21" flat screen)
Any help would be appreciated...