It's a bit of a toss up in my experience, and really depends on the rest of your equipment. Someone mentioned a $49 DVD player. Your money-to-quality ratio is going to be pretty poor in that situation. Likewise with a low to mid-range television. Picture quality is going to be limited by the tube, so even if you're delivering a flawless signal, the television is limiting your overall experience.
Without knowing more about your setup, it's difficult to give better advice.
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