I decided to take the advice of some people on these forums and buy and a PC Monitor. So any of you hav suggestion on which one to buy? I would like one that is 1080p and had a hdmi output (for my PS3). Also is there a way to connect my xbox 360 to it as well. My xbox 360 is kind of old so it does not have a hdmi output. So is there a way to connect the xbox 360 the the monitor with the component cable? Also is it possible to get all of this for under $200.

I have this monitor for my ps3 and love it.  As for your xbox 360...idk it can be done but its gonna be expensive, you will need to find a monitor with a component input...and at that point you should just buy a 32in lcd 

You can use a VGA output adapter for the Xbox 360 which can scale to whatever resolution and you can use HDMI for the PS3. I would suggest you use a 1080P monitor of around 24" in size if you can afford it as they are the sweet spot in terms of size/price atm.

As for brands, take your pick between Asus, LG, Samsung etc or any of the name brands anyway because I doubt the brand will effect much from your perspective.

Samsung XL2370.... Thread over....

Seriously after a lot of research into the best monitor, I got this two months ago when it recently became available in the US and it is AMAZING.  Best picture I have seen.  I was planning on holding out for OLED or SED but they probably won't be around for years and my old monitor broke, so I had to pull the trigger, and I am VERY happy I got this one.

http://www.prad.de/en/monitore/review/2009/review-lg-w2261vp.html

This should be good. In europe it's dirt cheap.

Nice to hear.  I did a fair bit of research myself and have just ordered this very monitor with my new PC, can't wait to get it.