What is the difference between LCD tv and monitors

I am a pc gamer. I just bought a new computer with Asus gtx 295.

I want to know what is the difference between LCD TVs and LCD monitors.

I have been searching on the internet for along time but I didn't find the answer.

is there something bad on TVs that make monitors better then TVs or it is just the price.

I want to buy Philips 47PFL7403D http://shopping.yahoo.com/philips%2047PFL7403D%2F27%20Television:1995275841age=compare;_ylt=Ah2WatA01FaYm2V_pXinutIRSXAD?.crumb=biXAobHHuqv&country=US&ts=1&zip=97330

and I don't care about the price. It has an excellent time response 2ms and it is full HDMI and the contrast ratio is 29000:1 the view angels are 178°(H) / 178°(V).

what is the difference between buying it and buying Asus vk266h a monitor that has the same resolution and the time response but less contrast ratio.

So, is the tv in this situation better or there are features or things in monitors that make the them better.

Pleasae help me I am getting crazy.

if someone can tell me the difference I'll be glade.

because I am a computer gamer and I spent a lot of money to build my computer and I am willing to spend more on my monitor or TV, but I want to understand what I am buying first.