I have 3 different TVs in this room. 40 inch LCD HDTV from 2007 I believe. A flat screen ( not panel ) EDTV with my main modded Original Xbox and an old CRT for light gun games. I recommend keeping CRTs around. A lot of things look way better on them. I've hoarded as many of them as I could for free or dirt cheap for the future.
Some 16 bit games are unplayable on an HDTV. Wing Commander on Sega CD has a bunch of menus and text you need to navigate and it's unreadable unless played on a CRT.