Difference between LCD monitors and TVs

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I'm guessing this must have been asked somewhere before but for the life of me I can't seem to find an answer. I've seen on here quite a few people who plan to use (or already are using a HDTV as a monitor). But I tend not to see the opposite.

So this is what I want to know - why not use a monitor instead of an LCD tv in your living room? Granted it won't have tuners built in but if you're connecting to HTPC then that doesn't make much difference. Is there something I'm missing - monitors don't seem to me more expensive than TVs, especially if you're after a smallish screen (i.e. 26"). Are there other more fundemental differences?
 
In some cases the panel may be different. A monitors native res will be something like (say for 19") 1440 x 900, whereas an equivalent size TV will only have a 1366 x 768 panel.
 
So this is what I want to know - why not use a monitor instead of an LCD tv in your living room?

Personally I use a 37" 1080P LCD on my desk instead of a monitor because it's much more immersive than my old 20" and the bigger screen is very much so appreciated for games, movies and TV.

Also of course I use the TV for Freeview and my PS3.

Really I'd rather have a 37" 1080P TV that costs about £550-700 than the likes of the new 30" Dell monitor that's gonna be about £1000 apparently.
 
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