I've heard of some people doing this, but I've never dedicated a TV in this way, so my opinion is academic and well, my opinion.
From a technical point of view the purpose doesn't fit. E.g. TV's aren't designed for input speeds, so expect masses of input lag. Some TV's have PC or gaming settings, which cut out video processing to increase input performance, but I have seen lots of lag when hooking up my laptop to the TV. Also a TV is designed for watching video material at good distances, not close up text or presentations. For me there designed for a purpose. Think of how much a 32inch monitor is... and then a TV.
To waffle on... Resolution also plays a part, I'd never purchase a 32inch monitor at 1920x1080, hell I don't think I'd buy a 27inch with that resolution.
I have an HDTV rigged to my desktop for media purposes, i.e. watching movies and such. It does a great job for that, but for text and such, it isn't the greatest. Depending on what your planned use is for it, I'd probably shoot for a monitor.