What are the advantages of Multi Function LCD (TV & Monitor) vs. an LCD TV

What are the advantages of Multi Function LCD vs an LCD TV as a computer monitor?

Would you recommend Multi Functional LCDs over regular LCD TV's?

I produce music on my MBP and want a new monitor for my bedroom I can watch TV and films on, play xbox 360 and snes, and look at and edit photo's. I'm not graphic designer nor do I want to be but I like photography as a hobby.

I've been looking at:

Multi Function

Samsung T260HD 26" Widescreen 5ms Gloss Black LCD TV/Monitor £355

Regular LCD TV

LG 32LH3000 32" Widescreen Full HD 1080p LCD TV with Freeview £390

anyone?