Small TV vs PC monitor: what’s the best display technology?

The TV versus PC monitor question used to be a classic horses for courses conundrum. For computing of any kind you wanted a monitor; for watching movies and playing console games, a TV was a no brainer. 

But is that still true? In this age of multi-platform media and all-digital connectivity do small TVs now make sense for use with a PC? And are monitors now more versatile as all-purpose displays rather than as devices for consuming raw data?