i personally use a 40" sony bravia lcdtv and couldnt be happier.
keep in mind that playing on a 1080p screen is going to be alot easier for your gpu than across 3x 1080p screens. on some games without using some pretty rediculous hardware 3x screens is uplayable but on one screen its not so bad. for 3x screens you may need to turn down the graphics to keep frame rate up while on one screen you probably do not need to do this.
a television due to being so large at 1080p has much less sharpness than a monitor at the same distance. of course this cancels out a bit if you sit in the optimal zone (place where the tv and monitor appear the same size visually) in which case there is less of a difference depending on your vision.
the plus side is that a television makes gaming larger than life and is better for casual gaming and movies. it works equally well at the desk, on the bed, on the couch or standing with the ps3 move.
one benefit of multiple monitors is the extra large resolution and desktop space. you can have multiple programs open at once across the screens. if you dont have a practical use for this however its not much of a plus when you consider the serious drawbacks (see performance note above).
honestly its a personal decision... pick what you like best.
for a bedroom... a large hdtv makes more sense though. you can play games from the chair, watch movies from the chair or bed. you can see the hdtv from anywhere while even a triple monitor setup would look small from anywhere but where you would normally sit.
an hdtv also works well with console games while 3x screens do not work so its limited to pc use or you would only use one monitor at a time.
of course you could have both the pc up and running (for example surfing this forum and talking on teamspeak) while playing a game on the 3rd monitor with your console so it allows for multitasking but thats a limited market.. and alot of money spent for products you may not use in this manner.
just some thoughts..
oh and if you buy a tv.. .perhaps get a home theater system too if its in budget. it makes a world of difference.
edit:
If you're talking about a PC gaming setup, then I'd pick monitors. The low resolution and refresh rate on TVs makes them less than perfect for PC based gaming.
the refresh rate on televisions (60hz) isnt any worse than most monitors you find (also 60hz). he must be talking about 120hz tn monitors while while true that they can handle more frames per second they also have the abysmal viewing angles all tn panels do as well as poor color reproduction common on all low end monitors. its a tradeoff really. while they definitely have an advantage when it comes to response time and refresh rate they fail at other things.. there is no one perfect monitor. its a pick and choose between what you like and what you can live with.
most panels (tv and monitor both) are 1080p so the resolution is exactly the same. the pixels per inch however is what are different. its a tradeoff... size for sharpness. if you sit about 3-4 feet back i can say a 40" works good. not as sharp as a pc monitor but its more versatile for general media. read manofchalk & my monitor guide over in the perepheral section (its a sticky) as it has some ppi listed for common screens.
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