external monitor or TV?

I get nearly all my entertainment on the laptop (dvd, youtube, itunes etc). HOwever I was thinking of getting an external monitor with a bigger screen, to make video watching a nicer experience. Can anyone recommend what sort of monitor I should be looking into and any idea of what I would spend?

Linked to this, I was wondering whether these external monitors also work with things like WII, or whether you need a television set for that? Or alternatively, whether a flat screen TV would work well for projecting DVDs and youtube from my laptop.

Advice please?