We've stopped watching tv mostly. Maybe a few times will play video games and use the tv, but just got a 22" flat panel and a decent sound system for the computer and it works fine.
The future of TV
In the next house will get a projector - a really small one - that's even better than the monitor and in some cases even more portable. I have this fantasy of having 2 mount points for it - one just above the head board for laying in bed and watching on the ceiling, and another in the living room for watching like regular tv, but bigger and without the space cost of a decent sized television.
Isn't technology grand?