it will look like crap depending on what you get. From personal experience and opinion, i thought 24'' 720p screen LOOKED TERRIBLE. The 50'' 1080p looked terrible as well...
The only thing that I ever could stand was a 32'' 1080p screen. This actually happens to be the smallest screen size for a 1080p TV. So if you are in the market, thats the only thing I would ever get.
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B@ll@x.
Modern flat panels can look fantastic provided you use DVI/HDMI at their native res (running them at other resolutions is not recommended as the interpolation can look grim). The idea that you absolutely have to match dpi with a dedicated monitor in order to be useable is laughable.
I run 2 mac minis on large flat panels:
My old G4 runs on a 32" LCD TV with 1280x768 native resolution. The display is driven digitally via a DVI to HDMI converter. At native resolution (note, most 720p sets are not natively 720p and you should not use 720p as a res unless you are ure they are as the interpolation can look nasty) the display is crisp and extremely usable.
My intel Mini runs a 60" 1080p plasma (native resolution 1920x1080) again digitally via a DVI to HDMI. It took some tweaking to get the native resolution out of the mini, but it looks awesome now - that's with pixels 4 times the size of what you consider to be the bare minimum acceptable.
And yes, I use both screens for a wide variety of applications including WP, photoshop, web browsing and gaming. I haven't died yet, my eyes are not bleeding and I am very happy with both set-ups.
OP would be well advised to note that some LCD TVs will screw around with color saturation if you run them over HDMI - which can be a bit of a pain. This varies from manufacturer to manufacturer - your best bet is to ask if you can plug in a laptop in the store.