Been using my PC on my HDTV for over a year now, best decision I ever made; 1080p on a big TV is heaven, much better than on a monitor.
Just need Steam to release their "Big Picture" mode or whatever it's called so that I can read it better from the couch
You just don't realise how much better games are at 1080p until you have two copies of a game like Assassin's Creed or Mass Effect and switch between the exact same place in the game on the two HDMI inputs.
The PC is just so much more detailed and fluid, even on my GTX280.
Console gaming is for chumps.