manofchalk :
errgh, playing on a TV at a desks length away from it was a pretty bad experience for me. Admittedly I have only used a 720p TV in that situation, but still.
If you want immersion, for the price of the TV Ryan suggested you can get yourself two of the new revision Oculus Rift Dev Kits.
A 720P will not work it has to be a 1080P at least, I also had a 720P and tried it but could not use it for gaming.
A virtual reality headset may one day be a worthy option but who wants to wear it for hours gaming, the larger screen is not only good for gaming but regular use as well, I have some desktop wallpaper that is stunningly awesome, plus movie playback as well.
I only suggested this because I'm running it and the OP was considering 3 monitors, which I had considered myself.