Ok, since you want to use it to watch TV at the same time use the monitor for regular computer stuff--you'll need to get this kind of monitor:
Westinghouse 17" Flat-Panel LCD TV with PC Input and Picture-in-Picture:
"This LCD TV pulls double duty as a computer monitor for a brighter, clearer workstation. The slim wall-mountable design allows extremely flexible placement — ideal for a kitchen, office, bedroom and more.
PC input allows you to use TV as a computer monitor.
Adjustable multimode picture-in-picture allows you to watch one source while you keep your eye on another.
Add a wall mount to display this TV in style."
Read more here---
As for setting up multpile monitors so you can do lots of different things simultaneously, it can be done. You'll need a video card that supports dual monitors or if you dont, buy a monitor switch box and connect both monitors to it. Hook those monitors up and configure in the Display properties for dual monitors.