I had one of those, or a closely related model, and we used it as the monitor on the primary entertainment PC as a TV-replacement. Worked quite nicely, although I never really made any use of the built-in speakers and reports are that they aren't really worth using anyway.
And since LCD monitors don't take up much room I would suggest keeping the old monitor as a spare or back-up if you don't run a dual-monitor system. You never know when a spare monitor will come in handy.
